Ongoing Houthi attacks on Israeli territory, including drone strikes on Eilat in September 2026, have sustained the risk of direct Israeli military responses against targets in Yemen. Israel conducted its largest reported strikes on Houthi sites in Sanaa shortly afterward, establishing a pattern of retaliation tied to threats to shipping lanes and border security. Saudi-led coalition operations targeting Houthi missile infrastructure in late October reflect parallel pressure on the Iran-backed group, while broader regional tensions involving Iran and post-election planning by the US and Israel add layers of uncertainty. Trader consensus reflects these recurring escalation triggers and the absence of a sustained ceasefire.