The Saudi-led coalition has launched a major military operation against Houthi forces in Yemen, involving extensive airstrikes and ground offensives targeting several regions including Saada, Hudaydah, Al-Jawf, and Marib. This escalation follows recent Houthi attacks on Saudi infrastructure, marking a significant intensification after a period of relative calm. The operation is part of a broader strategy to reclaim territory from Houthi control. Market pricing reflects an 8% probability of the Houthis entering Aden by October 31, 2026. Observers will be monitoring strategic areas such as Al-Anad Air Base and the Taiz-Aden corridor for any shifts in control.
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