Oil Prices Hit 10-Month High on Supply Fears as Saudi Arabia, Russia Extend Cuts

Oil prices were heading higher on Monday on concerns that the market will be short of supply after Saudi Arabia and Russia extended their coordinated production cuts until the end of the year.

Brent crude, the international standard, ticked up 0.3% to $94.25 a barrel, extending three straight weeks of advances. West Texas Intermediate, the U.S. benchmark, climbed 0.4% …