On 16 Oct 2026, West Texas crude traded at US$101.41 a barrel (up $3.44) and Brent at US$109.86 (up $3.94). Drivers: missile attacks aimed at Saudi Arabia's Yanbu export terminal, reports Iran may retaliate, fears over Strait of Hormuz shipping, and a drone strike that halted the main crude unit at Russia's Ryazan refinery. A partial offset: the US DOE is offering up to 17 million barrels from its strategic reserve via exchange, coordinated with the IEA. For a Thai SME, expect pressure on diesel and fuel costs and transport surcharges; review fuel budgets and pricing for the coming weeks.