He foresees prices in the low $90s on average in the last three months of the year. Oil prices can be volatile, and while they might briefly top $100 in the coming months, they're unlikely to stay there, said Jorge Leon, senior vice president for oil markets at Rystad Energy. Some analysts think oil could hit $100 a barrel based on robust demand and limited supply. oil traded at around $90.50, up from $68 before the Saudi cut. 5 and from $74 before the Saudi cut was first announced. International benchmark Brent oil traded at just under $94 per barrel Monday, up from $90 before the extension on Sept. Simply, tighter supply means higher prices. Russia, Saudi Arabia's ally in the OPEC+ oil producers' coalition, also extended its own cut of 300,000 barrels a month through 2023. The world's second-largest oil supplier has slashed production by 1 million barrels a day since July and decided this month to extend the cut through the end of the year. While most states are likely to continue seeing gasoline prices fall in the week ahead, any new refinery issues as others begin maintenance could be problematic.'Ībove all, Saudi Arabia's decision to cut back how much oil it sends to global markets has pushed prices higher. 'But new and continued refinery issues in some regions have had an oversized effect on gas prices in some states, especially in Southern California, Arizona, and Nevada. 'It's been a mostly quiet week for the national average price of gasoline, with most states seeing gas prices cool off,' said Patrick De Haan, head of petroleum analysis at GasBuddy. Here are things to know about the recent increase - and where prices might be going: Why have oil prices risen? Thousands lose power early Tuesday in Poway area

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