Global Family Site

World

news highlight
Energy watchdog warns looming transit fees in Hormuz
Energy watchdog warns looming transit fees in Hormuz SEOUL, June 19 (AJP) - A temporary truce between the United States and Iran has reopened the Strait of Hormuz for 60 days, providing a critical lifeline to energy-dependent manufacturing hubs in South Korea and Southeast Asia. The International Energy Agency warned Thursday (local time) that despite the immediate relief, the crisis has permanently altered the global energy map. The unblocking of the maritime chokepoint eases a severe bottleneck for production-based Asian economies June 19, 2026