WTI crude oil futures traded near $90 per barrel early in the week of October 5, 2026, after recent declines driven by the G7’s agreement to release up to 100 million barrels of crude and diesel from strategic reserves and by rising Middle East exports that approached pre-conflict levels in late September. Saudi Aramco’s sharp cut in November pricing for Asian buyers to six-year lows further signaled expanding supply, while OPEC+ left November output targets unchanged amid persistent shortfalls from key producers. Geopolitical risks from Houthi attacks on Saudi facilities and broader regional tensions continue to support a risk premium, though the combination of reserve releases and export recovery has eased immediate supply concerns and weighed on prices. Traders will monitor weekly EIA inventory data, any further OPEC+ communications, and developments in Yemen for near-term price direction.