Geopolitical tensions in the Middle East, including Houthi attacks on Saudi targets and Iranian threats to shipping in the Strait of Hormuz, have elevated the risk premium and driven WTI volatility during the week of October 19. Prices tested the $100 per barrel level amid a 3.1 million barrel U.S. commercial crude inventory draw to 412.5 million barrels for the week ending October 16, alongside production near 13.3 million barrels per day. OPEC+ maintained November output targets at prior levels, with the next meeting scheduled for November 1, while trader sentiment reflects uncertainty over potential further supply disruptions versus any diplomatic de-escalation ahead of U.S. midterms. These factors have supported prices near five-month highs for Brent, though recent sessions showed pullbacks after sharp intraday spikes.