BEIJING: Oil prices rose for a third day on Thursday on increasing concerns ‍the U.S. may ‍carry out a military attack on key Middle Eastern producer Iran that ​could disrupt supply from the region. Iran is the fourth-largest producer among the Organization of the Petroleum Exporting Countries with output of 3.2 ⁠million barrels per day. "The potential for Iran getting hit has escalated ​the geopolitical premium of oil prices by potentially $3 to $4 (per barrel)," analysts at Citi said in a note on Wednesday. U.S. crude inventories fell by 2.3 million barrels to 423.8 million barrels in the week ended January 23, the Energy Information Administration said on Wednesday, compared with analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. Overall, Citi said oil prices may stay elevated due to rising geopolitical risks, ‌U.S.