SEOUL, March 18 (Xinhua) -- South Korea on Wednesday raised its oil crisis alert from "attention" to "caution" level and is preparing to release strategic petroleum reserves amid growing concerns over supply disruptions, Yonhap News Agency reported.

A man fills up a truck at a petrol station of an Inland Container Depot (ICD) terminal in Uiwang on March 13, 2026. (File photo: AFP)

The move came as the prolonged conflict in the Middle East began to affect global oil supply, with risks to production and transport routes becoming increasingly visible.

South Korea's resource security alert system consists of four levels: "attention," "caution," "alert," and "serious." The government said the current situation has moved beyond the "attention" phase, where risks are anticipated, to the "caution" phase, where actual supply instability has begun to emerge.

According to the Ministry of Trade, Industry and Resources, damage to production and transport facilities in major Middle Eastern oil-producing countries has already led to partial disruptions in output and export restrictions. In addition, instability in oil shipping routes has intensified due to the Strait of Hormuz blockade.

The government also cited increased volatility in the global oil market, with Brent Crude prices rising by around 40 percent since the outbreak of the conflict, as a factor behind the decision.

In response, the government plans to strengthen both supply expansion and demand management measures. It is expected to announce within this week a plan to release 22.46 million barrels of oil reserves in coordination with the International Energy Agency.

South Korean President Lee Jae Myung had earlier instructed officials to consider vehicle rationing measures that limit when vehicles can be driven based on license plate numbers.