**WTI crude oil trades near $91–92 per barrel amid mixed supply signals and persistent Middle East geopolitical risk.** Escalating US-Iran tensions, including reports of additional US naval deployments to the Persian Gulf, sustain a risk premium that limits downside, while recovering Hormuz transits, resumed Saudi exports, and G7/EU discussions of diesel and crude stock releases exert downward pressure. China’s suspension of refined product exports for October tightens fuel markets further. Traders are pricing in near-term volatility around the October 4 OPEC meeting and upcoming US economic releases, including nonfarm payrolls and FOMC minutes, which could shift rate expectations and demand outlooks. Market-implied odds reflect this balance between supply recovery and geopolitical uncertainty.