Putin, Saudi crown prince discuss safe passage through Hormuz, Bab el-Mandeb

…according to the Kremlin. They also "underscored the need for a swift cessation of hostilities" in Yemen amid the deteriorating military and political situation there. Kremlin stresses need to keep key waterways open " The importance of ensuring the safe and unimpeded passage of vessels through the region's international waterways, including the Bab el-Mandeb and Strait of Hormuz, was emphasised ," the Kremlin said, as quoted by Reuters. The two waterways are important routes for global energy shipments. With the Hormuz and Bab el-Mandeb routes disrupted by Iran and Iran-allied Houthi militants, Saudi Arabia…

…highest level since March, according to Joint Organizations Data Initiative data reported by Reuters. Saudi crude production also increased to 8.135 million barrels per day in July from 7.122 million bpd in June. " Saudi crude and product exports increased in July as regional tensions moderated ," UBS analyst Giovanni Staunovo said, while warning that exports could be weaker in August, particularly from Red Sea terminals, because of renewed tensions involving the Houthis. Saudi refinery crude throughput fell…