Recent Houthi missile and drone strikes into Saudi territory, including claimed attacks on Riyadh and Aramco facilities in Yanbu, have intensified trader focus on border risks amid renewed Yemen fighting. Saudi air defenses intercepted multiple ballistic missiles and drones targeting western provinces and Red Sea ports in late September, while the group advanced along Yemen’s coast and in highland areas near Taiz, threatening government supply lines. Riyadh has conducted airstrikes in Yemen, sought support from allies including Pakistan and Turkey, and raised concerns at the UN over threats to shipping and sovereignty. No confirmed ground incursions have occurred, with activity limited to cross-border projectiles and Yemeni theater operations. Diplomatic channels and defensive measures remain key variables in the near term.