Saudi Arabia maintains that formal normalization with Israel requires a credible, irreversible pathway to Palestinian statehood along 1967 borders, a condition Riyadh has described as firm and non-negotiable since the Gaza conflict escalated. This stance, reinforced by Crown Prince Mohammed bin Salman and Foreign Minister Faisal bin Farhan, aligns with domestic constraints including near-universal public opposition in Saudi surveys and constitutional requirements tied to King Salman. Ongoing regional tensions, including Israeli operations and Palestinian-related diplomacy, have shifted Saudi priorities toward alternative security frameworks and coalitions, reducing momentum for Abraham Accords expansion. Traders assess these structural barriers as unlikely to resolve before the 2027 deadline, reflected in the strong consensus against near-term normalization.