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2026-09-18 20:48:14
[EU and Saudi Arabia Discuss Yemen Situation, Strait of Hormuz Navigation Security Under Scrutiny] ⑴ EU High Representative Kallas spoke with the Saudi Foreign Minister to discuss ending the war in Yemen through diplomatic efforts and restoring freedom of navigation in the Strait of Hormuz. ⑵ Kallas stated that the Houthi attacks on Saudi Arabia are unacceptable and disrupt the global economy. ⑶ Kallas said that the EU's Operation Aspides has raised the alert level of its ships. ⑷ From a market sentiment perspective, the safety of navigation in the Strait of Hormuz directly affects expectations for crude oil transportation and insurance costs. ⑸ If the situation escalates further, the Middle East supply risk premium may rise again, and refined oil crack spreads will also be supported. ⑹ Further attention should be paid to whether diplomatic mediation can achieve substantial progress and the actual impact of the escalated alert level on shipping routes. ⑺ Overall, geopolitical risks remain a significant disruptive variable in the energy market.
