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Story summary
- South Korea plans to send five Korean-flagged ships to Yanbu, Saudi Arabia, to secure alternative oil routes amid Hormuz disruptions.
- Oil prices rose as the Strait of Hormuz remained effectively closed due to the US-Israeli conflict with Iran.
- President Lee Jae Myung said Korea may accept some risk importing Middle East crude.
- The government is consulting oil-producing nations and using government-held reserves to support private refiners during the crisis.
