10,590TASI · Oct. 6 close · +1.1%

DailyDrop.

3.75USD/SAR · official pegged rate (not a live rate)
© 2026 DailyDropNo. 3
SAUDI ARABIAArgentina editionAustralia editionBrazil editionCanada editionFrance editionGermany editionIndia editionIndonesia editionIsrael editionItaly editionJapan editionKorea editionMexico editionNetherlands editionNigeria editionPhilippines editionPoland editionSaudi Arabia editionSingapore editionSouth Africa editionSpain editionSwitzerland editionTaiwan editionThailand editionTürkiye editionU.K. editionU.S. editionUkraine editionUnited Arab Emirates editionVietnam editionAll editions →
, WED., OCT. 7, 2026No. 3 · Morning, 6:00 a.m. AST6 a.m. AST
TASI10,590.00▲1.10%10/6USD/SAR3.75－0.00%10/6S&P 5007,818.93▲0.58%10/6WTI$89.44▲0.01%10/6Gold$4,187.10▲0.73%10/6
Yemen · SecurityPress ✓ 5 outlets · field claims attributed to those making them · update to yesterday’s issue

Yemen’s army says it pushed the Houthis out of the Bab al-Mandab and Mocha areas; the Houthis deny it, and there is no independent confirmation

Government sources told Reuters and AFP that forces reached only the outskirts of Mocha, while the Houthis said they control everything they seized last month. The coalition says it continues to provide “full operational support”.

Yemen’s army said on Tuesday, October 6, that it had pushed the Houthis out of areas around the Bab al-Mandab strait and from the coastal city of Mocha, according to ITV and Al-Monitor. Government sources told Reuters and AFP that forces reached only the outskirts of Mocha, and military sources did not confirm to AFP that the city had been taken, while Houthi spokesman Yahya Saree said the Houthis still control everything they seized last month. We have not seen independent confirmation from any party.

According to an analysis published by the Foundation for Defense of Democracies on October 6, the coalition says it continues to provide “full operational support” to Yemeni forces in the operation “Yemen Dawn” announced by Rashad al-Alimi. Al-Monitor, citing Reuters, reported that Saudi Arabia is expected to lead the air campaign while Yemeni forces fight on the ground, and the announcement includes retaking all Houthi areas, among them Sanaa, according to Al Jazeera.

AFP reported hearing another explosion in north Riyadh on Tuesday after explosions on Monday evening, and the Houthis said they targeted Riyadh airport and an Aramco refinery, with no Saudi confirmation of any damage. Fighting is still raging in the highlands of Taiz, and the International Institute for Strategic Studies estimates pro-government forces at about 122,000 troops, but the government’s control over some of its factions is “limited”, according to Al Jazeera.

In DailyDrop’s reading, the announcement still outruns the proof. Today, Wednesday, we are following: independent photos or testimony from Mocha and Dhubab, coalition statements, any Saudi clarification of the explosions in Riyadh, and the fate of the road between Taiz and Aden.

Open the story and DailyDrop’s take
By the numbers
August 6Start of the Houthi campaign, according to the Foundation for Defense of Democracies analysis
September 11Houthis reach Bab al-Mandab, according to the same analysis
Outskirts of MochaThe most that government sources confirmed to Reuters and AFP, with no confirmed control of the city
Markets · TadawulOne source: Argaam · figures from the closing report

TASI jumps 1.1% to 10,590 points, and National Iron and Steel shares rise 10% on their first day on the Main Market

TASI rose on Tuesday, October 6, by about 1.1%, or 110 points, to 10,590, according to Argaam, on a trading value of about 4.2 billion riyals, ranging between 10,504 and 10,595. Aramco and Al Rajhi Bank shares each rose about 1%, and Almarai about 3%.

National Iron and Steel began trading on the Main Market after moving from the Nomu market, and rose 10%, the daily limit. We found no second source for these data and no confirmed explanation for the rise.

Open
Word of the day
Main MarketMarkets

Tadawul’s core market for large companies, with listing requirements stricter than those of the Nomu market.

Markets · United StatesClosing data as reported · we found no confirmed reason

S&P 500 rises 0.58% to 7,818.93 points, and gold gains 0.73%

The S&P 500 closed on Tuesday, October 6, at 7,818.93 points, up 0.58%; West Texas Intermediate settled at $89.44, up 0.01%; and gold rose 0.73% to $4,187.1 per ounce, according to closing data.

We found no documented explanation from two sources for the day’s moves, so we offer no reason. These data come after Tuesday’s Tadawul close, so Wednesday’s Saudi session begins on their basis.

Open
Yemen · BackgroundPress ✓ 4 sources · dates from Security Council reports and analyses

How the war got here: from tanker attacks in July to the government offensive in October

On July 22 the Houthis said they attacked two Saudi tankers in the Red Sea, and on July 26 they attacked two refineries, in Jazan and Yanbu, according to the Security Council’s monthly report. On July 30 Saudi Arabia, Yemen and 12 other countries announced the “Multinational Maritime Defence Coalition”. The Houthis began their campaign against the government on August 6 and reached Bab al-Mandab on September 11, according to the Foundation for Defense of Democracies analysis.

On September 19 the Security Council condemned the Houthi attacks on Saudi Arabia, including the targeting of civilian and energy infrastructure, according to Anadolu, and it noted that at least 125,000 people have been displaced since the start of September, according to the Office for the Coordination of Humanitarian Affairs. UN envoy Hans Grundberg warned in an August briefing that the risk of a return to wide-scale conflict is greater than at any time since the 2022 truce.

Open
Oil · MarketsTwo sources · date of one unconfirmed · no official closing price

Brent near $102.6 according to one report, and West Texas Intermediate steady at $89.44

A report published on October 5 on the MoneyMagpie website said Brent is trading near $102.60, about 57% higher than a year earlier, and that it fell to about $97.70 days ago, linking this to the continued disruption of the Strait of Hormuz. Blue News, citing Keystone-SDA, reported that Brent rose about half a percent to $100.89 on a Tuesday as a tanker came under fire in Hormuz, but the date of that report is unclear to us.

We did not obtain an official closing price for Brent on Tuesday, so we draw no conclusion from these figures. What is confirmed is that West Texas Intermediate closed at $89.44. Gulf exports remain hostage to Hormuz: Ghalibaf repeated on Sunday that the strait will not open before the seven conditions are met, and we have seen no change in Iran’s position since.

Open
In brief
  • The S&P 500 closed at 7,818.93 points, up 0.58%Closing data
  • Gold $4,187.1 (+0.73%) and West Texas Intermediate $89.44 (+0.01%)Closing data
  • TASI rises 110 points to 10,590 on a trading value of 4.2 billion riyalsArgaam
  • Almarai shares rise about 3%Argaam
  • National Iron and Steel begins trading on the Main Market under ticker 1325Argaam
  • Al-Alimi announced a general mobilisation, according to one reportThe National
  • The Security Council condemned the Houthi attacks on Saudi Arabia on September 19Anadolu
Seven minutes every morning, one front page

Unverified — what we could not confirm

“The Houthis destroyed Khamis Mushait air base.” A Houthi claim relayed by Blue News: they said they hit weapons depots, runways and a hangar in response to more than 300 Saudi air strikes. Saudi Arabia did not comment, and the date of the report is unclear to us, so we do not treat it as confirmed.
“The Houthis attacked a power station in Medina.” An accusation by the coalition: it said a drone hit the Taybah station on September 29 and knocked out one transformer without affecting the wider grid; the Houthis denied it and called it a lie, and there is no independent verification (Gulf News, Al-Ahram, Al-Monitor).
“Government forces took control of the city of Mocha.” A claim by Yemeni state media. Government sources told Reuters and AFP that forces reached only the outskirts of the city, and military sources did not confirm that it had been taken.
Glossary · dotted words — economic, security and political terms explained in the context of the story. The list grows every day.
INSIDEYemen’s army says it pushed the Houthis out of the Bab al-Mandab and Mocha areas; the Houthis deny it, and there is no independent confirmationYemen · SecurityTASI jumps 1.1% to 10,590 points, and National Iron and Steel shares rise 10% on their first day on the Main MarketMarkets · TadawulS&P 500 rises 0.58% to 7,818.93 points, and gold gains 0.73%Markets · United StatesHow the war got here: from tanker attacks in July to the government offensive in OctoberYemen · BackgroundBrent near $102.6 according to one report, and West Texas Intermediate steady at $89.44Oil · Markets