Mohammed bin Salman remains Saudi Arabia’s de facto leader as crown prince and prime minister, with King Salman holding the throne amid reported treatment for a lung infection. Recent Houthi missile strikes, including a deadly October 10 attack on Riyadh’s international airport that killed at least 13 and injured hundreds, have heightened security concerns, prompted postponement of the Future Investment Initiative summit, and compounded economic pressures on Vision 2030 projects. These developments coincide with broader regional fallout from the U.S.-Iran conflict and stalled diversification efforts, though diplomats assess MBS’s consolidated authority and sidelined rivals as leaving his position more secure than in prior years. No major internal challenges or succession shifts have surfaced in recent weeks. Traders evaluating removal timelines would monitor further Houthi escalation, Gulf security coordination, and any shifts in U.S. policy or royal health announcements.