Seoul: Crude oil supplies stable despite uncertainty
Seoul: Crude oil supplies stable despite uncertainty
South Korea confirms stable oil supplies despite Middle East tensions / Yonhap
Seoul, July 21 (QNA) – South Korea’s Ministry of Industry announced today that crude oil supplies remain stable despite renewed tensions in the Middle East, and vowed to closely monitor major shipping routes in the region.
The Ministry of Trade, Industry and Resources said in a statement that South Korea has secured the equivalent of 110 percent of last year’s levels for July and August, while the figure for September is 90 percent.
It added that six oil tankers heading to South Korea have passed through the Strait of Hormuz since the US and Iran signed a peace memorandum of understanding in June, and three of them have already arrived in the country.
The ministry said that until September, there are no major concerns about crude oil supplies, and noted that there are no problems with navigation through the Red Sea either so far.
Original source: QNA
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