Two oil tankers have been struck by unknown projectiles on the Strait of Hormuz amid renewed fighting between Iran and the United States.

Asian economies are racing to build up storage capacity to reduce their exposure to conflict in the Middle East.

U.S. Energy Secretary Chris Wright has said that more than 17 million barrels of oil transited through the Strait of Hormuz on Monday—a record during the U.S.–Iran conflict—due to American military protection.

South Korea is considering deploying P-8A Poseidon maritime patrol aircraft, mine-clearance specialists and a naval logistics support ship to the Strait of Hormuz as U.S. forces confront Iranian maritime threats in the region.

South Korea is considering a range of measures, including a possible military contribution, to help safeguard freedom of navigation through

The South Korean government on Friday pushed back on reports that concrete preparations were under way to deploy military forces to the Strait of Hormuz, saying that a review remains in progress.

The United States says it has completed a new round of strikes against Iran amid escalating fighting around the Strait of Hormuz. Iran’s Red Crescent said a separate strike hit a wedding party in