SINGAPORE — Oil prices soared to near $93 a barrel today in Asia as Libyan leader Moammar Gadhafi struggled to maintain his grip on power in the OPEC nation amid violent protests calling for his resignation.

Benchmark crude for March delivery was up $6.75 at $92.95 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Markets were closed Monday in the U.S. for a holiday. The contract last settled Friday, down 16 cents at $86.20.

In London, Brent crude for April delivery gained $1.21 to $106.95 a barrel on the ICE Futures exchange.

Concern among traders is growing that some of Libya's crude exports of 1.0 million barrels a day could be affected as foreign oil companies evacuate staff from the country. Traders are also eyeing protests in Iran, the second-largest producer in the Organization of Petroleum Exporting Countries.

“Unlike Egypt, Libya is a significant producer of crude and we may be seeing the largest disruptions since the start of the second Gulf War,” energy consultant The Schork Report said.

ATLANTA — Home Depot says its fourth-quarter net income rose 72 percent more people started on home-improvement projects. The retailer is also reporting its first yearly revenue increase since 2006 and raising its 2011 net income guidance.Fourth-quarter net income rose to $587 million, or 36 cents per share. Analysts expected 31 cents per share, according to FactSet.Revenue rose 4 percent to $15.13 billion. Analysts expected $14.81 billion.Revenue in stores open at least a year rose 3.9 percent.For the year, net income rose 25 percent and revenue increased 2.8 percent to $68 billion.For 2011, the company expects net income to rise 9.5 percent to $2.20 per share. That’s up from a prior forecast of a 7 percent to 9 percent increase.