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Oil settled at nine-month highs as investors digested a decision by OPEC+ leaders Saudi Arabia and Russia to extend supply curbs through the end of the year.

Oil clung to gains on expectation that a US economic rebound would bolster demand even as the possibility of interest rate hikes weighed on other markets.

Oil rose as fuel stockpiles continue to tighten, clinging to gains even as hawkish comments from Federal Reserve Chairman Jerome Powell knocked the wind out of Wall Street.

Benchmark US crude oil settled above $90 a barrel for the first time since November, the latest milestone in a surge driven by output cuts from Saudi Arabia and Russia amid record global consumption.

Growing confidence in China's recovery and mounting evidence of cooling US inflation buoyed crude prices for a sixth day.

Oil slipped from a three-month high as US crude stockpiles fell less than anticipated and traders assessed the Federal Reserve's interest rate hike.

Oil eked out a gain after a report showed that US job openings in February fell to the lowest since 2021, reigniting concerns over a global economic slowdown.

Oil extended its rally to a 10-month high as production cuts by leaders of the OPEC+ cartel strain global supplies, a setup that's projected to create the tightest crude market in a decade in the months ahead.

IEA is signaling a crisis in oil markets.

Oil rebounded from last week's selloff as tensions flared in the Middle East, with a vessel attacked in the Red Sea and Israeli tanks reaching the center of Rafah.