First Oil Tanker Reaches South Korea Through Hormuz Since War Began

An oil tanker that had passed through the Strait of Hormuz in mid-April arrived on Friday at a port in South Korea, shipping the first crude cargo to the country via Hormuz since the war began. The Malta-flagged Odessa crude oil tanker arrived at Daesan on South Korea’s west coast laden with 1 million barrels of crude. Such volumes of oil are equal to about 35-50% of South Korea’s daily oil consumption. Before the Iran war began, South Korea imported most of the crude it consumes from the Middle East and is one of the most exposed Asian…