Maritime Security Shock: Yemen’s Iran-aligned Houthis sent shipping firms a warning not to load or discharge at Saudi ports, saying vessels could be targeted “in any location,” as the group declares a naval blockade and raises the risk of wider Red Sea disruption. Oil & Shipping Impact: With Strait of Hormuz traffic near standstill and Bab el-Mandeb now in focus, analysts warn Saudi crude exports and tanker routes could face fresh strain, pushing prices back toward $100+ if chokepoints tighten. Energy Infrastructure Vulnerability: Iran’s strikes damaged a Kuwait desalination plant, renewing fears that Gulf water and energy assets could be targeted as the conflict escalates. Saudi Market Pulse: Tadawul drew $1.6bn in net foreign inflows in Q2, the only GCC market to see net buying, as investors weighed geopolitical risk and Strait of Hormuz disruptions. Industrial/EV Supply Chain: Sabic signed an MoU with CEER to explore advanced materials and processing for locally developed EVs, aiming to strengthen Saudi EV supply chains. Aviation Orders: Riyadh Air’s widebody expansion continues with Boeing 787 orders at Farnborough, signaling sustained aircraft demand for Saudi carriers.