Recently, a number of merchant ships in the Red Sea waters were recently attacked by Yemen's Houthi armed forces, exacerbating tensions in the Middle East, affecting international shipping.

On December 18, BP announced that it would suspend all oil shipments through the Red Sea due to the deteriorating security situation in the region, becoming the first international oil major to do so. International benchmark Brent crude jumped 2.8 percent on the day on the news, while European natural gas futures surged nearly 8 percent at one point.

Earlier, including Mediterranean Shipping (MSC), Maersk (Maersk), CMA CGM (CMA) and Hapag-Lloyd (Hapag-Lloyd), a number of shipping giants have also announced the suspension of navigation in the Red Sea. Together, the four companies have a 53% share of the global container shipping market. In other words, more than half of international shipping no longer passes through the Red Sea.

On December 19, U.S. Defense Secretary Austin announced in Bahrain that the United States is forming a new multinational force to protect shipping transiting in the Red Sea from the threat of drone and ballistic missile attacks launched from Houthi-controlled areas of Yemen.

In this regard, Zhang Chuchu, deputy director of the Middle East Studies Center of Fudan University, and Wang Yongzhong, director of the International commodities research department of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said in an interview with the National Business News that the rise in freight costs and delayed delivery of goods caused by the blockage of the Red Sea-Suez Canal channel will be transmitted to the global supply chain, pushing commodity prices higher. More importantly, after the United States' strong intervention in the Red Sea situation, the Red Sea crisis may further spill over, and even have the risk of spreading to the Persian Gulf region.

At a time when the situation in the Red Sea is becoming tense, on December 19, local time, US Secretary of Defense Austin announced a major decision in Bahrain, the Middle East headquarters of the US Navy - will form a joint fleet to patrol the Red Sea.

In response to the formation of the so-called "escort coalition" between the United States and some countries, Mohammed Abdeslam, a spokesman for the Houthi armed forces in Yemen, said on social media: "The United States formed the alliance to protect Israel and militarize the Red Sea waters." There must be consequences for those who seek to widen the conflict."

Mohammed Buhati, a member of the core decision-making body of the Houthi armed forces in Yemen, also said on the 19th that even if the United States successfully mobilized the entire world, the Houthi armed forces will not stop military operations. Buhati reiterated that the Houthis would stop their attacks only if Israel ceased fire and allowed unimpeded access for humanitarian supplies to Gaza.

Zhang Chuchu told the Daily Economic News reporter that the United States' intervention in the Red Sea situation may bring greater risks to the region. "On the one hand, the high-profile actions of the Houthis in Yemen and the obstruction of shipping in the Red Sea-Suez Canal mean that the spillover effects of the Israeli-Palestinian conflict are expanding. On the other hand, the announcement by the US Secretary of Defense that a new multinational force is being formed to carry out escort operations in the Red Sea is likely to exacerbate the already complex Yemeni political situation and bring the risk of further escalation of the 'regional proxy war'."

Wang Yongzhong also said in an interview with every reporter that the Red Sea crisis arose from the Palestinian-Israeli conflict and belonged to the further expansion of the Palestinian-Israeli conflict. If the Israeli-Palestinian conflict is not properly resolved, not only the Red Sea-Suez Canal region, but even the Persian Gulf trade route will be affected.

"The international community needs to promote peace talks, promote ceasefire and cessation of war between Palestine and Israel, encourage all parties to abide by international law and international humanitarian law, and make efforts to implement the two-state solution, so as to fundamentally resolve the cycle of the Palestinian-Israeli conflict." At the same time, all parties should refrain from pouring fuel on fire and restarting the conflict in Yemen, and jointly promote the cooling of the situation in the Red Sea." Zhang Chuchu finally summed up to reporters.