Saudi Arabia has conducted hundreds of airstrikes on Houthi positions across multiple Yemeni provinces since the escalation intensified in July 2026, responding to the Iran-backed group's seizure of Red Sea coastal areas including Mokha and Perim Island near the Bab al-Mandeb strait, plus repeated missile and drone attacks on Saudi cities and energy sites such as Riyadh and Yanbu. Ground clashes continue in provinces including Taiz, Marib, and al-Jawf, with reports of over 800 deaths and significant displacement since early August. Saudi air defenses have intercepted numerous incoming projectiles, while limited external support includes UK refueling assistance and U.S. intelligence sharing without direct U.S. strikes. These dynamics, alongside the 2022 truce's collapse, shape trader assessments of further Saudi military steps in the coming weeks.