Oil prices soar to 10-month high as Russia and Saudi Arabia commit to slash production for longer

• Brent crude surpassed $90 a barrel for the first time since November on Tuesday.
• Oil prices climbed after Saudi Arabia and Russia committed to further production cuts until December.
• The move will hold total output at about 9 million barrels a day, the lowest level in years.

Oil prices soared more than 1.3% Tuesday to hit their highest mark in 10 months, with Brent crude, the international benchmark, breaching the $90 a barrel threshold for the first time since last November.

West Texas Intermediate crude oil, meanwhile, traded at about $87 a barrel, also a 10-month high.