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...