South Korea raises energy alert amid Middle East oil disruptions
South Korea has raised its national energy security alert to the second-highest level due to disruptions in oil supplies from the Middle East. The country sourced about 55% of its energy products from the region in 2024, worth roughly $144 billion, and is now experiencing physical disruptions in oil supplies.
South Korea raised its energy alert amid Middle East oil disruptions. The Ministry of Trade, Industry and Energy cited supply interruptions as the reason. The decision was made due to disruptions in domestic oil supplies and excessive volatility in global oil prices. Imports of crude oil through the Strait of Hormuz have been suspended for over 10 days. South Korea relies heavily on the Middle East for its energy needs. The country is working to ensure safe navigation through the strait.
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