U.S. benchmark West Texas Intermediate (WTI) crude futures for December delivery closed Wednesday with a sharp 2.8% uptick, climbing $2.88 to settle at $102.78 per barrel, as cascading geopolitical unrest across the Middle East sent ripples of anxiety through global energy markets over potential interruptions to critical oil supply chains. The price surge was first triggered by verified reports of targeted attacks carried out by Yemen’s Houthi rebel group against key Saudi energy infrastructure, including the sprawling Ras Tanura refinery, one of the largest crude processing and export facilities in the world. Separately, Houthi officials confirmed that 13 people were killed and 16 others wounded in a wave of airstrikes in northwestern Yemen that the group blames on the Saudi-led military coalition operating in the region. Beyond the immediate Yemeni conflict flashpoints, energy traders were closely tracking the still-unresolved outcomes of Israel’s recent parliamentary elections, where neither the right-wing bloc led by former prime minister Benjamin Netanyahu nor the rival opposition coalition headed by ex-military chief Gadi Eisenkot managed to secure a clear parliamentary majority sufficient to form a stable governing coalition, raising fears of prolonged political gridlock that could spill over into regional security dynamics. Parallel diplomatic developments added another layer of complexity to the tense regional landscape: Iranian authorities announced they are collaborating with international mediators to roll out their proposed seven-day peace plan across the conflict zone in under a week, a proposal that the United States has formally rejected amid persistent high tensions and growing warnings of a return to large-scale military escalation. These latest diplomatic overtures come on the heels of multi-party negotiations held in Tehran, which brought together diplomatic envoys from Russia, Qatar, Pakistan, Saudi Arabia, and Turkey to address the overlapping conflicts involving Iran, the U.S., and Israel. A recent exclusive report from The Wall Street Journal, citing anonymous government sources, revealed that Washington has issued formal advisories to multiple Gulf Cooperation Council member states to prepare contingency measures for a potential “short, intense military campaign” in the immediate aftermath of the November 3 parliamentary elections. All latest regional energy and geopolitical updates are available through DominicanScope.