Escalating cross-border strikes since the 2022 truce collapsed in July 2026 have driven recent trader assessments for an effective Houthi-Saudi ceasefire. Houthi forces have conducted over 120 attacks on Saudi airports, oil infrastructure, and military sites through mid-November, prompting coalition interceptions and retaliatory strikes in Yemen while ground offensives continue around Taiz and the Red Sea coast. Riyadh has conditioned any pause on territorial recoveries by the internationally recognized government and has rejected immediate concessions on port access, salary payments, or reparations. UN Security Council sanctions were extended on November 12 with calls for negotiations, yet both sides maintain incompatible demands amid active fighting. Diplomatic channels remain open through Omani and UN mediation, but no binding timeline or breakthrough has emerged within the coming weeks.