As Red Sea blockade threat grows, Korea weighs Suez Canal as crude import route of last resort

AI Summary

South Korea is considering using the Suez Canal as an alternate crude oil import route amid potential blockade threats in the Red Sea by Yemen’s Houthi rebels. However, experts caution that this route is less economical and unsustainable in the long term.

Korea is weighing the Suez Canal as a fallback route for crude oil imports should a worst-case scenario materialize — namely, a full blockade of the Red Sea by Yemen’s Houthi rebels as the U.S.-Iran conflict intensifies. However, experts warn this route is the least economical option and ultimately unsustainable. Rounding Africa’s Cape of Good ...