Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large U.S. fuel inventories and macroeconomic concerns.

Oil prices hit a near three-month high on Wednesday as concerns about supply disruptions and optimism over rising demand supported the market. “Concerns over Iranian and Russian oil flows will also be providing some support,

Oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand.

Oil futures rose Monday, looking to build on recent strength that saw crude end at nearly three-month highs last week, boosted by hopes around further stimulus from China and signs of strong demand for Middle Eastern crude.

Crude oil prices rose to a three-week high amid mounting concerns over supply disruptions and increasing demands. However, technical analysts caution that oil markets may be over-bought. View on euron

Oil prices rose on Monday, remaining at their highest since mid-October as colder weather spurred buying while further support was provided by a weaker U.S. dollar and expectations of tighter sanctions on Iranian and Russian oil exports.