Oil prices ease after hitting 10-month highs as investors take profits | Reuters

Oil prices ease after hitting 10-month highs as investors take profits | Reuters

Oil prices rose to 10-month highs on Tuesday before easing, as investors took profits following three sessions of gains that followed extended production cuts from Saudi Arabia and Russia.

Global benchmark Brent crude futures settled 9 cents lower at $94.34 a barrel. Earlier, it hit a session peak of $95.96 a barrel, their highest since November.

U.S. West Texas Intermediate crude futures dropped 28 cents to $91.20 after earlier reaching $93.74 a barrel, also the highest since November.