WTI crude oil rallies above $62.20 resistance, targeting previous tops at $64.75 and $66.49 with bullish momentum intact. Winter storm disrupts U.S. crude production, sending Gulf Coast exports to zero before rebounding as supply tightens.

Crude oil, which rose sharply on Wednesday and Thursday on concerns over a potential U.S. military attack against Iran, were modestly higher at midday Friday after the White House said it was open to talks with Iranian government.

Crude oil futures gained for a third straight session, with Brent crude back above $70/bbl, as US military moves into the Middle East raised expectations of possible action against Iran.

Crude oil needs Iran supply shock to break resistance, Reuters columnist says. Technical setup suggests market anticipates production disruption with breakout over $66.49.

Crude oil futures traded lower on Friday morning after the US eased some sanctions on the oil industry in Venezuela.

Crude oil futures rose after President Trump warned Iran to make a nuclear deal with the US or face military strikes, raising concerns about potential oil supply disruptions.

Brent crude futures settled above $70 a barrel for the first time since July after US President Donald Trump warned Iran to make a nuclear deal or face military strikes.

Oil prices settled 3% higher on Tuesday as producers reeled from a winter storm that hobbled crude production and drove U.S. Gulf Coast crude exports to zero over the weekend.