Recent developments have shifted trader sentiment toward lower WTI prices, with front-month futures settling at $88.56 per barrel on November 13 after a roughly 2.5% weekly decline. The International Energy Agency’s November report revised the fourth-quarter outlook to a global supply surplus of about 1.7 million barrels per day, citing recovering Middle East exports and non-OPEC+ gains that outpace demand. U.S. commercial crude inventories rose 4.7 million barrels in the latest EIA data, reflecting softer refined-product consumption. These factors have eased earlier geopolitical premiums tied to Middle East disruptions while highlighting ample near-term supply. With November drawing to a close, upcoming weekly inventory reports and any OPEC+ communications remain key data points that could influence final settlement levels.