WTI crude oil futures jumped more than 2% in pre-market trading, crossing the $101 per barrel mark. [16] The primary driver is a significant escalation in geopolitical tensions in the Middle East, which has renewed concerns over global oil supply stability. [5, 6, 11] Reports of an attack by Yemen's Houthi movement on Saudi Arabia's largest oil refinery, Ras Tanura, are fueling fears of a direct impact on production. [2, 3, 9] This specific event, coupled with broader anxieties about a potential military conflict between the US and Iran following the upcoming midterm elections, has added a significant risk premium to oil prices. [1, 4]