Oil prices hit 10-month high

U.S. oil prices reached $90 a barrel Thursday for the first time in nearly a year, with the spike coming shortly after Saudi Arabia announced extended production cuts.

West Texas intermediate crude prices hit $90.25 Thursday, surpassing the $90 for the first time since November. 

The rise comes just over a week after Saudi Arabia announced the supply cuts of 1 million barrels will be extended through the remainder of 2023, with the state-run Saudi Press Agency saying the cuts would be reviewed monthly with the possibility of increases or...