Crude imports hit record highs, with December stockpiling estimated at 2.67 million bpd-the fastest pace since 2020-as Beijing took advantage of low prices and expanded storage capacity.

Prices on oil jumped on Thursday as the White House ratcheted up pressure on Iran over negotiations for a new nuclear deal.

Crude oil markets continue to see buyers, as we are trying to price in geopolitical concerns, with a strike against Iran being possible. Because of this, the supply and demand situation is being ignored at the moment.

Crude oil price has been rather bullish in recent sessions as the market digests the geopolitical tensions in Iran. However, it is yet to transition into the bullish market as investors await further cues on the demand/supply dynamics.

March WTI crude oil (CLH26 ) today is up +1.61 (+2.71%), and March RBOB gasoline (RBH26 ) is up +0.0314 (+1.71%). Crude oil and gasoline prices are sharply higher today, with crude oil posting a 1-week high.

By Shadia Nasralla LONDON, Jan 28 (Reuters) - Oil prices hit their highest since late September on Wednesday after a winter storm disrupted U.S. crude output while a weak U.S. dollar and continued Kazakh outages lent further support.

Crude oil price edged higher on Wednesday as weather disruptions and a weaker US dollar bolster the asset. At the time of writing, Brent oil was trading at $66.62 as the bulls gather enough momentum to break the resistance at $66.

The Trump administration says it has completed the first sale of Venezuelan oil to the U.S. Will it mean lower prices at the pump?

Chevron and Exxon Mobil reported fourth-quarter earnings before Friday's stock market open.