Commercial crude oil stocks were down by 9 million barrels last week. Analysts expected crude stocks to rise by 1.1 million barrels.

US-Iran tensions could push oil prices higher, says Goldman Sachs. The bank's co-head of commodities research said the market sees the situation escalating.

March WTI crude oil (CLH26 ) today is up +2.06 (+3.30%), and March RBOB gasoline (RBH26 ) is up +0.0438 (+2.29%). Crude oil and gasoline prices are sharply higher today on geopolitical risks. The likelihood of the Russian-Ukrainian war continuing will keep restrictions on Russian crude and limit global

By Laila Kearney Feb 20 - Oil prices were higher on Friday as concern of conflict between the U.S. and Iran ratcheted up, with Washington saying Tehran will suffer if it does not agree a deal about its nuclear activity within a matter of days.

Oil's price movement over the coming days depends on whether the Trump administration's rhetoric turns into action.

March WTI crude oil (CLH26 ) on Wednesday closed up +2.86 (+4.59%), and March RBOB gasoline (RBH26 ) closed up +0.0536 (+2.80%). Crude oil and gasoline prices rallied sharply on Wednesday amid mounting geopolitical risks.

Commercial crude stocks are seen rising by 1.1 million barrels to 429.9 million barrels in the week ended Feb. 13, according to the average estimate of seven analysts and traders. Five expect an increase and two predict a decline. Expectations range from an increase of 5.2 million barrels to a drop of 3 million barrels.

WTI crude oil edged higher on Monday, trading near $63.74 per barrel, as markets attempted to balance easing geopolitical risks against mounting concerns over future supply. Read more here.