Saudi and Omani delegations arrived in Houthi-controlled Sanaa in early October 2026 to present a draft peace framework that includes extending the prior UN truce, UN-supervised talks between the Houthis and Yemen’s internationally recognized government, port and airport access adjustments, and a transitional period. This occurred against intensified fighting, including Houthi missile strikes on Riyadh’s airport that killed civilians and prompted Saudi-led coalition airstrikes on Houthi targets. Saudi officials stated no ceasefire would occur until government forces regain recently lost territory near the Bab al-Mandeb Strait. Iran-Saudi foreign minister talks on October 11 offered facilitation of dialogue, while prisoner exchanges and Yemeni government statements supported broader political settlement efforts under existing UN resolutions. These overlapping military and diplomatic signals shape trader assessments of near-term announcement prospects.