South Korea’s crude oil imports are recovering despite prolonged Middle East conflict and disruptions affecting major shipping routes. July imports reached 93.18 million barrels, 9.8% more than a year earlier, after falling to about 64.5 million barrels in April, the lowest level since 2010. Government support, alternative cargoes, detour routes and a strategic reserve swap program helped refiners maintain supplies of gasoline and diesel. The Oil Price Cap System, introduced on March 13, has operated for six months and limits petroleum prices while compensating refiners for losses. The government froze its ninth price-cap round for four weeks from the 22nd of last month and plans to continue monitoring market conditions. South Korean refiners have also supplied petroleum products to Australia and New Zealand. Separately, prosecutors indicted four major refiners and related personnel on July 6 over alleged price collusion and unfair trade practices; the companies denied the allegations at an August 20 hearing, and the court has not ruled.