South Korea Secures 273 Million Barrels of Crude Oil

South Korea has secured 273 million barrels of crude oil from the Middle East and Kazakhstan through the end of the year, with all supplies routed outside the Strait of Hormuz. Presidential chief of staff Kang Hoon-sik announced the procurement on Wednesday following a diplomatic tour of Oman, Saudi Arabia, and Qatar. This strategic move aims to shield the economy from potential supply disruptions in the Middle East, which often impact global benchmarks like Brent Crude Oil and West Texas Oil.