As Saudi Arabia grapples with the fallout from the Iran-backed Houthis' biggest attack on the kingdom in years, Riyadh has adopted a fresh strategy of carefully calibrated deterrence aimed at ensuring the unfettered passage of its exports through the Bab el-Mandeb Strait, which the Yemeni group has vowed to block, according to several senior officials based in the region.

In parallel, it is engaged in what one of the officials calls "hedged de-escalation" with Iran. This involves a mix of diplomacy and deterrence, as the Islamic Republic continues to restrict shipping through the Strait of Hormuz, through which most of Saudi Arabia's oil exports previously flowed.

What happened

Yemen's Houthi rebels, also known as Ansar Allah (Supporters of God), struck energy infrastructure and a military base across four Saudi cities after months of remaining above the fray of the Iran conflict. The attacks, which began early on Tuesday, injured more than 70 people, triggered blazes, paralyzed energy operations and drew a flurry of angry condemnation from Riyadh. Aramco's 400,000-barrel-a-day Jazan refinery was among the facilities damaged.