South Korean, Japanese refiners to keep Red Sea route for Saudi crude

AI Summary

South Korean and Japanese refiners plan to continue using the Red Sea maritime route to transport Saudi crude oil despite potential changes in the US-Iran conflict and shipping flows in the Persian Gulf. The strategy reflects ongoing regional and global energy shipping dynamics.

South Korean and Japanese refiners plan to utilize the Red Sea maritime passage to procure light and medium sour Saudi crude even if the US-Iran war ends and Persian Gulf shipping flows normalize, according to several industry sources and the South Korean government over July 1-16. A total of 13 South Korea-bound tankers have safely ...