US crude oil prices top $90 a barrel for the first time since November 2022

Source: CNBC

“Oil prices jumped on Thursday, with U.S. crude topping $90 a barrel, as expectations of a tighter supply grew. West Texas Intermediate crude (WTI) gained 1.6% to reach a high of $90.04 per barrel, touching its highest level since November 2022. Brent crude was up 1.7%, at $93.47, reaching a 10-month high. WTI crude last traded at $90.02 a barrel. Saudi Arabia and Russia have extended their oil output cuts to the end of 2023, and the move could result in a substantial market deficit for the rest of 2023, the International Energy Agency said on Wednesday.” (09/14/23)