Houthi missiles shut Saudi Arabia's main airport in Riyadh, killing 14 and wounding hundreds — very bad for the Saudi government, for US-made air defenses, and for already strained oil markets.

• The attack hit the main terminal and nearby oil storage, shutting the airport and triggering travel warnings around the world; an American was among the dead.
• Top oil bosses, including BP's, pulled out of a big energy conference in Riyadh, a serious hit to Saudi Arabia's image as a safe place to do business.
• Saudi air defenses are US-supplied and appear to be running short of missiles, forcing hard choices about what to shoot down — a bad look for both Riyadh and Washington.
• Saudi Arabia is trapped: walking away from the Yemen war would be humiliating, but it can't beat the Houthis, and letting US forces use its airspace would invite Iranian strikes too.
• Iran keeps disabling tankers in the Strait of Hormuz with no US response, and Aramco's chief warns global oil storage is nearly drained and could take two years to refill.

Outlook: Trump says he may join the Saudi campaign but is unlikely to, while Iran has offered to mediate — leaving energy prices exposed to more Houthi strikes heading into winter.