Saudi Arabia’s coalition launched Operation Dawn of Yemen in early October 2026, deploying airstrikes and ground support to reverse Houthi gains around the Bab al-Mandab Strait and Red Sea ports. The offensive followed Houthi territorial advances and attacks on Saudi infrastructure, including missile strikes on Riyadh’s King Khalid airport and Aramco facilities. Mutual exchanges have continued through late October, with the coalition targeting Houthi missile sites, tunnels, and ports such as Hodeidah while Houthis responded with drones and ballistic missiles. Diplomatic efforts, including regional talks in Tehran, have not halted the fighting. Trader views on further Saudi military action hinge on whether ground advances stall, Houthi retaliation intensifies, or external pressure produces a new truce.