The Houthis have conducted small-scale cross-border raids into Saudi Arabia’s mountainous southwestern border region as recently as late October 2026, marking the first such ground incursions since the prior ceasefire collapsed. These operations targeted military posts and reportedly yielded captured Saudi equipment, reflecting an expansion of Houthi tactics beyond missiles and drones. Parallel escalation includes repeated Houthi strikes on Saudi airports, Aramco facilities, and energy infrastructure, alongside intensified ground fighting in Yemen where Houthi forces have advanced toward key cities such as Taiz. Saudi Arabia has responded with airstrikes, air-defense interceptions, and diplomatic efforts to build a broader coalition involving regional partners. Traders assessing entry probabilities weigh the demonstrated Houthi reach and border activity against Saudi defensive posture and the risk of wider attrition or negotiated pauses.