The Saudi-led coalition announced the interception and destruction of two ballistic missiles fired by the Houthi movement toward Khamis Mushait, with no casualties reported. This incident is part of a series of cross-border missile and drone attacks by the Houthis against Saudi targets, following the breakdown of an informal ceasefire between the warring parties. The interception highlights ongoing military tensions in the region, which influence market expectations regarding Saudi airspace security. Market pricing implies a 5.5% probability of Saudi airspace closure by November 1 and a higher 16.5% by January 1.
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