The Saudi-led coalition intercepted and destroyed a ballistic missile launched by the Houthi movement toward Riyadh, according to reports. The interception resulted in no reported casualties. The incident is part of an escalation in hostilities marked by repeated missile and drone attacks on Saudi targets. Markets now assign a 19% probability to a closure of Saudi airspace by January 1, 2027. Saudi aviation authorities, the Houthi leadership, and regional powers such as Iran are being closely watched, as further action could increase military tensions and affect regional air travel.
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