Dozens of Asia-Flagged Oil Tankers Stranded near Strait of Hormuz [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Dozens of Indian and South Korean oil tankers and more than 1,100 crew are currently stranded in and around the Persian Gulf as the critical chokepoint the Strait of Hormuz remains de facto closed to tanker traffic. As many as seven crude oil tankers from South Korean refiners are currently stranded in the Strait of Hormuz, Businesskorea reported on Thursday. The delay in crude shipments to Korea, which imports all of its crude and gas supply, could have major repercussions on energy security and the refining and petrochemicals sectors in the country, executives say. “If the Iran situation is prolonged, it could pose a significant burden across the board, from energy and shipping industries to Middle East export projects,” Kim Chang-beom, standing vice chairman of the Korea Enterprises Federation, said at a meeting in South Korea's Parliament on Thursday. Related: Trump's Secret Weapon in the Rare Earth War South Korean refinery officials noted that one of the stranded tank
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