Xi Jinping Calls Saudi Crown Prince MBS; Urges Hormuz Must Stay Open

Chinese President Xi Jinping called Saudi Crown Prince Mohammed bin Salman on April 21, stating: 'The Strait of Hormuz should remain open to normal navigation, which is in the common interest of regional countries and the international community.' Xi's call to MBS was the second high-level Chinese diplomatic push in two days (following his public statement on April 20) to keep the waterway open. China and Saudi Arabia are the world's largest importer and exporter of oil, respectively, giving both acute incentives to resolve the Hormuz closure. Brent crude dipped slightly to ~$94.78/bbl on April 21 on reports that Iran might yet send a delegation to Islamabad — down from $96 on April 20 — though traders remained cautious given the conflict's volatility. The British military described the Hormuz situation as 'critical,' while the US Navy continued enforcing its Arabian Sea blockade, forcing 21 commercial ships to turn back.