"Supply Concerns Propel Oil Prices Above $91 Mark"

Oil prices have surged above $91 per barrel as concerns over a potential supply deficit arise after Saudi Arabia and Russia extended supply cuts. Brent and West Texas Intermediate (WTI) crude prices have reached their highest levels since November and are on track for their biggest quarterly gains since 2022. The spike in oil prices is causing pain at the pump, with companies that heavily rely on fuel, such as airlines and trucking companies, locking in oil prices for months in advance. A sustained increase in oil prices could benefit OPEC members but hinder industrialized economies' efforts to control inflation and lower interest rates.