Saudi Arabia has intensified its military involvement in Yemen amid a Houthi offensive that began in mid-September 2026, with rebels seizing Red Sea coastal areas including Mocha and positions near the Bab al-Mandeb Strait before launching missile and drone strikes on Saudi airports, oil facilities, and border regions. In response, the Saudi-led coalition initiated a major counteroffensive around October 5, deploying approximately 100 fighter jets for airstrikes and providing air support to Yemeni government forces, which have reported recapturing territory around the strait and Mocha. Clashes have produced hundreds of casualties on both sides in recent days, with ongoing Houthi attacks and Saudi interceptions of ballistic missiles. These battlefield developments, alongside coalition statements on intercepts and strikes, shape trader assessments of further Saudi military action in the near term.