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Market Chatter: South Korea Says Crude Oil Supplies Secure Through September

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South Korea has secured crude oil supplies equivalent to 110% of last year's levels for July and August and about 90% for September, securing its energy needs even as the Middle East conflict continues to disrupt global supply chains, Yonhap News reported Tuesday, citing the South Korean industry ministry.

The ministry said that since June, as many as six oil tankers bound for South Korea have transited the Strait of Hormuz, with three already arriving, adding that it sees no significant concerns over crude supplies through September.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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