By Robert Harvey LONDON, Jan 29 (Reuters) - Brent oil futures prices jumped on Thursday, hitting a four-month high on rising concerns about a possible U.S. military attack on Iran, OPEC's fourth-largest producer with output of 3.

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.

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

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.

Oil prices dropped significantly as President Trump indicated Iran was engaged in serious talks with Washington, signaling a de-escalation of tensions. This news eased geopolitical risk premiums that had previously driven prices to multi-month highs.

Despite the rise of renewable energy over the years, oil and gas still play a pivotal role in meeting the world's energy needs. Chevron ( CVX +1.57%) is a very popular dividend stock in the oil and gas industry. Investors love its generous dividend yield, currently about 4.1%.

Jan 28 (Reuters) - Citi said on Wednesday that oil prices may stay elevated due to rising geopolitical risks, U.S. restrictions on Russian oil purchases and continued Chinese buying, even as markets entered the year expecting a large oversupply.

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