WTI extends its upside below $91.00 amid a tight supply outlook

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• WTI gains momentum around $90.90, the highest level since November 2022.
• Oil supply cuts by Saudi Arabia and Russia boost the WTI prices.
• Saudi Arabia’s Energy Minister said OPEC+ is working to keep oil markets stable amid the uncertainty on China’s demand.

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $90.90 mark so far on Tuesday. WTI prices gain momentum due to a tight supply outlook by Saudi Arabia and Russia. However, a fear of an economic slowdown in China might limit the upside in WTI prices.