The UK has announced plans to conduct missions aimed at protecting Saudi Arabia from attacks by Yemen’s Iran-backed Houthi movement. These operations involve deploying the RAF Voyager for air-to-air refueling and existing UK air-defense equipment. The missions focus on assisting Saudi aircraft in intercepting Houthi drones and missiles, rather than launching offensives against Houthi positions. This development comes amid ongoing tensions in the region, particularly involving the strategic city of Aden in Yemen. Market pricing reflects a 4% probability of a Saudi-Houthi ceasefire agreement for a near-term announcement.
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