Houthis escalate Yemen conflict with missile strikes on al-Makha, Marib

Yemen’s Houthi forces have launched ballistic missile strikes targeting the strategic locations of al-Makha and Marib, intensifying the ongoing conflict in the region. This escalation follows a series of Houthi missile and drone attacks on government-held territories, prompting responses from Yemeni army forces. The use of ballistic missiles marks a significant increase in conflict intensity, posing heightened risks to civilian areas and critical infrastructure. The attacks come amid a broader escalation of violence in Yemen’s prolonged civil war, which continues to involve key regional actors. Key Takeaways The recent missile strikes by Houthi forces appear to represent an escalation in the Yemen conflict, suggesting increased instability in the region. Pricing suggests the likelihood of Houthi military actions extending to Israel has slightly decreased, with the probability now at 5.5% YES. The ballistic missile attacks are consistent with scenarios where tensions could spill over into broader regional conflicts, involving further strategic interests. What to Watch Watch for any statements from the Houthi leadership, particularly from Yahya Saree and Abdul-Malik al-Houthi, for in...