Saudi-led coalition launches military operation in Yemen - Saudi State TV

Saudi State TV is reporting a military operation Yemen against military targets - However, the market is not convinced that this is an extreme escalation of the status quo right now considering the U.s. has already announced that they would prefer to impose sanctions on Iran rather than military strikes.

The US secretary of state, Mike Pompeo, explained earlier that Washington is seeking a “peaceful resolution” with Iran in the wake of the attack on Saudi oil facilities, making clear that Washington would limit its initial response to further sanctions. Pompeo’s remarks followed visits to Saudi Arabia and the United Arab Emirates and significantly cooled down the rhetoric after Donald Trump when he warned the US was “locked and loaded” and when Pompeo had said the attack, which he blamed on Iran, was “an act of war”.