As one of Asia’s largest crude importers and a major regional fuel exporter, South Korea faces compounding risks: surging global oil prices are inflating raw-material costs, while deteriorating shipping conditions and broader supply disruptions are bearing down on trade flows. Singapore Flags ‘Untested’ Asian VulnerabilitySingapore’s Foreign Minister Vivian Balakrishnan articulated the regional stakes in pointed terms on Monday. “At the moment, closing the Strait of Hormuz is, to some extent, an Asian crisis,” he told reporters. In Pakistan, cricket supporters have been asked to stay home and watch matches on television to conserve fuel. The government is also planning fuel rationing for vehicles, according to people familiar with the matter who requested anonymity because the information is not yet public.

Source: Daily News Egypt March 30, 2026 19:55 UTC