On July 21, IEA Executive Director Fatih Birol stated that escalation affecting the Strait of Hormuz and Bab el-Mandeb Strait raises security of supply concerns, while noting that crude oil markets retain cushioning factors. The remarks reference Houthi threats to Red Sea routes, Saudi Arabia's Yanbu pipeline alternative, and ongoing mediation efforts. Reporting draws from two Singapore-based outlets citing Birol's comments directly.