Back to today’s briefing

Story perspectives

South Korea Begins Crude Oil Transport via Red Sea

4/18/2026

26 2 Full Breakdown

Summary

Story summary

The Oceans Ministry announced on April 17 that South Korea began transporting crude oil via Red Sea, the first route since the Strait of Hormuz closure.
President Lee Jae Myung praised the achievement, citing teamwork.
South Korea has secured over 270 million barrels via alternative routes to cover more than three months.
South Korea's Chief of Staff noted trips to Kazakhstan, Oman, Saudi Arabia, and Qatar to diversify fuel sources.

History

Historical Context

The Strait of Hormuz, a critical maritime chokepoint, facilitates about 20% of global oil trade. In March 2026, Iran's closure of the strait amid escalating tensions with the U.S. and Israel disrupted oil exports, causing Brent crude prices to surge past $120 per barrel. South Korea's strategic shift to alternative routes reflects a broader trend of nations diversifying energy sources to enhance security.

1 of 2

Story summary

The Oceans Ministry announced on April 17 that South Korea began transporting crude oil via Red Sea, the first route since the Strait of Hormuz closure.
President Lee Jae Myung praised the achievement, citing teamwork.
South Korea has secured over 270 million barrels via alternative routes to cover more than three months.
South Korea's Chief of Staff noted trips to Kazakhstan, Oman, Saudi Arabia, and Qatar to diversify fuel sources.

1 / 2