Record Oil Prices

Oil prices reached a 10-month high of US$95.34.

The hike was in reaction to Saudi Arabia and Russia announcing they will cut production through the end of the year.

The international benchmark, Brent Crude Oil, reached $95.34 cents on Tuesday, the highest since November 2022.

Brent Crude’s per-barrel price broke the $90 price mark for the first time since November, according to Reuters.

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