South Korea draws Gulf oil storage interest as Hormuz stays closed

About this episode

The episode discusses South Korea's increasing role as a storage option for Middle Eastern oil amid the closure of the Strait of Hormuz.

South Korea is drawing growing interest from Middle Eastern oil producers seeking to store crude oil at the country’s petroleum reserve bases, the world’s sixth largest, amid a prolonged blockade of the Strait of Hormuz, a South Korean official and an expert on the matter have said. The strait’s closure in the wake of the US-Israel war on Iran has taken a toll not only on South Korea and other nations dependent on oil imports but also oil-producing countries whose storage tanks are filling up...

Topics covered

• oil storage
• South Korea
• Middle East
• Strait of Hormuz
• oil producers
• petroleum reserves

Keywords

• South Korea
• oil storage
• Middle Eastern oil
• Strait of Hormuz
• petroleum reserves
• US-Israel war
• Iran

Mentioned in this episode

Organizations: US, Israel, Iran

Places: South Korea, Middle Eastern, Strait of Hormuz

More episodes of Asia - South China Morning Post

• Philippines’ belligerence towards China out of step with Asean trend · June 12, 2026
• China’s ban on Philippine defence chief and family seen as warning shot to Manila · June 12, 2026
• Kim Jong-un turns out to be the cleverest of them all · June 12, 2026
• Can Singapore-linked growth deliver votes for Johor’s ruling party? · June 12, 2026
• Why US and China are watching Philippines’ Marcos Jnr at Russia-Asean talks · June 12, 2026
• Bangladesh, India pledge closer border cooperation amid migration row · June 12, 2026