South Korean Prime Minister Han Seong-sook (L) speaks during an emergency economic response meeting at the government complex in Seoul, South Korea, 15 July 2026. Photo by YONHAP / EPA
July 16 (Asia Today) -- South Korea has secured crude oil supplies for September equivalent to 74% of last year's level as renewed military tensions between the United States and Iran raise concerns about energy shipments through the Strait of Hormuz, the government said Thursday.
The Ministry of Trade, Industry and Energy said during a daily briefing by its Middle East conflict response headquarters that the country had secured more than 100% of its average crude oil imports for July and August compared with last year.
Contracted supplies for September are also steadily increasing and have reached about 74% of the year-earlier level, the ministry said.
The government said South Korea's crude oil supply remains stable despite heightened tensions in the Middle East. Tankers carrying oil to the country continue to travel normally through the Strait of Hormuz.
