Recent Houthi missile and drone strikes on Saudi infrastructure, including multiple attacks on Riyadh’s King Khalid International Airport that killed at least 13 people in October 2026 and hits on Aramco facilities and other energy sites, have intensified cross-border tensions without any reported ground incursions into Saudi territory. Saudi-led coalition forces have intercepted numerous projectiles, conducted airstrikes on Houthi targets in Yemen, and backed Yemeni government counteroffensives that recaptured some Red Sea coastal areas seized by the Houthis near the Bab el-Mandeb strait. These exchanges reflect ongoing pressure from Houthi demands to end Saudi military support for Yemen’s recognized government and lift restrictions on Houthi-controlled ports, amid broader regional dynamics involving Iran. Trader assessments of a ground entry by late 2026 remain shaped by the distinction between sustained aerial campaigns and the higher barriers to large-scale territorial movement across the border, with potential shifts tied to any escalation in Saudi ground operations or diplomatic mediation efforts.