Oil prices ease as investors take profits

Brent crude futures settled 9 cents lower at US$94.34 a barrel, while the US West Texas Intermediate crude futures dropped 28 cents to US$91.20.

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 US$94.34 a barrel. Earlier, it hit a session peak of US$95.96 a barrel, their highest since November.