Oil tanker arrives with 1 million barrels of crude
An oil tanker has arrived in South Korea with 1 million barrels of crude oil, marking the first shipment to the country via the Strait of Hormuz since the war began.
The shipment is significant, as it accounts for 35-50% of South Korea’s daily oil consumption.
South Korea previously relied heavily on the Middle East for its crude oil imports, making it one of the most exposed Asian countries to disruptions in the region.