Dozens of Asia-Flagged Oil Tankers Stranded near Strait of Hormuz

Dozens of Indian and South Korean oil tankers and more than 1,100 crew are currently stranded in and around the Persian Gulf as the critical chokepoint the Strait of Hormuz remains de facto closed to tanker traffic. As many as seven crude oil tankers from South Korean refiners are currently stranded in the Strait of Hormuz, Businesskorea reported on Thursday. The delay in crude shipments to Korea, which imports all of its crude and gas supply, could have major repercussions on energy security and the refining and petrochemicals sectors…