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 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.

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?

Billionaire oil magnate Harold Hamm has ceased drilling operations in North Dakota's Bakken shale, citing low margins as oil prices remain near the $50 per barrel range and costs increase.

A survey compiled by The Wall Street Journal--including projections from Goldman Sachs, JPMorgan and Morgan Stanley--showed Brent crude is expected to average $61.33 a barrel, while West Texas Intermediate is seen at $58.14 a barrel. That is above previous projections of $60.62 and $56.95 a barrel, respectively.

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

Investors don't need to worry about this oil major's sterling dividend track record or its future.