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Keywords: Oil supply


South Korea secures oil supplies outside Strait of Hormuz amid regional tensions

South Korea has secured hundreds of millions of barrels of crude oil through alternative routes that bypass the strategically sensitive Strait of Hormuz, as part of efforts to safeguard its energy supply amid rising tensions in the Middle East. According to officials, the country has ensured access......

Oil supply shock drives global shift as China boosts clean tech exports

The war in Iran has triggered what energy officials describe as the largest supply disruption in the history of the global oil market. The shock has reshaped energy demand patterns and accelerated a shift toward alternative sources, placing China at the center of the transition. Despite being Iran’s......

South Korea moves closer to securing oil supplies from Kazakhstan

South Korea is nearing an agreement to secure crude oil supplies from Kazakhstan, as part of its strategy to diversify energy sources amid ongoing instability in the Middle East. According to the country’s industry minister, negotiations have made significant progress, with details regarding volumes......

Indonesia’s President Prabowo plans visit to Russia for talks with Putin

Indonesia’s president, Prabowo Subianto, is expected to travel to Russia in the coming days for high-level talks with President Vladimir Putin, according to Indonesian officials. The planned visit highlights growing diplomatic engagement between Indonesia and Russia at a time of shifting global......

IEA chief says Middle East war will speed up the global shift to clean energy

The worst energy crisis in modern history will ultimately accelerate the worldwide transition to renewables, nuclear power, and electric vehicles, International Energy Agency executive director Fatih Birol said in an interview published Tuesday by French daily Le Figaro. Birol described the current......

South Korea risks Hormuz oil runs as Asia's energy crisis deepens into sixth week

Six weeks into the war between the United States, Israel, and Iran with no ceasefire in sight, Asia, the destination for roughly 90 percent of the oil and 83 percent of the liquefied natural gas that normally transits the Strait of Hormuz, is bearing the heaviest economic toll of a conflict it did not......

US crude premiums hit record highs as Asia and Europe scramble for supply

The six-week-old war between the United States, Israel, and Iran has produced the worst oil supply crisis in modern history, drawing warnings from economists and international institutions that the world faces a growing risk of stagflation and recession if the Strait of Hormuz remains closed. The International......

Polymarket prices 77% chance of $120 oil after U.S. fighter jet downed over Iran

The downing of a U.S. F-15E Strike Eagle over Iran on Friday sent shockwaves through energy markets, with bettors on prediction platform Polymarket pushing the implied probability of WTI crude reaching 120 dollars per barrel this month to 77 percent, up from just 36 percent two days earlier. The abrupt......

Iranian drones strike Kuwait's Mina al-Ahmadi refinery again, sparking fires

Iranian drones struck the Mina al-Ahmadi oil refinery in Kuwait on Friday morning, igniting fires across multiple operational units in the latest attack on Gulf energy infrastructure since the U.S.-Israeli air campaign against Iran began in late February. Kuwait Petroleum Corporation told the official......

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