Recent Houthi missile and drone strikes on Saudi airports, oil facilities, and southern border areas have intensified amid a Yemeni government counteroffensive supported by the Saudi-led coalition, with both sides trading airstrikes and the Houthis advancing toward key Red Sea positions. Small-scale cross-border raids by Houthi forces on Saudi military posts occurred as recently as late October, marking direct ground activity inside the kingdom beyond missile ranges. Saudi air defenses continue intercepting many projectiles, while Riyadh conducts retaliatory strikes on Houthi targets in Yemen. These developments, including the November 10 interceptions of missiles aimed at Riyadh and the Eastern Province, sustain trader focus on escalation risks through year-end. Scheduled diplomatic channels remain stalled, with no confirmed large-scale ground entry or ceasefire.