Oil prices reached their highest level of the year, with some analysts predicting a return to $100 a barrel before the end of 2024. Brent crude futures traded at $93.29 a barrel on Friday, while U.S. West Texas Intermediate futures traded at $89.83. The rally in Oil Prices is attributed to expectations of tighter supply after Saudi Arabia and Russia extended their oil output cuts and reduced oil exports. However, not all analysts believe that oil prices will reach $100, with some suggesting a pullback is needed in the near term.

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