Iran has conducted multiple missile and drone strikes on Gulf Arab states including Saudi Arabia, the UAE, Bahrain, Kuwait, and Qatar since early 2026, often framed as retaliation against U.S. or Israeli actions targeting Iranian facilities or as efforts to pressure hosts of American bases. These operations have hit or threatened energy infrastructure, ports such as Yanbu, airports, and civilian areas, prompting Arab League condemnations of sovereignty violations and prompting defensive responses from affected governments. Recent September 2026 developments include intercepted ballistic missiles aimed at Saudi Red Sea sites, Iranian warnings of broader escalation to the Indian Ocean, and renewed threats against energy targets following reported strikes on Iranian assets. Diplomatic overtures for neighborly ties coexist with persistent proxy activity and cross-border incidents, shaping trader assessments of whether additional direct targeting will occur before any resolution window amid fragile cease-fire extensions and shifting alliances.