Korean won falls against dollar amid rising oil prices as Middle East crisis drags on | Yonhap News Agency

## Summary
OK SEOUL, March 12 (Yonhap) -- The South Korean currency fell against the U.S. dollar Thursday as global oil prices climbed amid concerns about supply disruptions stemming from heightened tensions in the Middle East. Korea, China, Japan, 13 other economies: USTR U.S. to release 172 mln barrels from strategic oil reserve: energy secretary (LEAD) Seoul shares open lower amid extended woes over oil prices; won sharply down (2nd LD) Trump says 'we've won' in war with Iran S. Korea to release 22.46 mln barrels from oil reserves under IEA release plan Keywords #Korean won Articles with issue keywords Most Liked U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats (News Focus) How 'The King's Warden' captured 10 mln Korean viewers BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones Most Saved (News Focus) How 'The King's Warden' captured 10 mln Korean viewers (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (LEAD) S. Korea won't be hindered regardless of potential shift of USFK's assets (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats S.

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SEOUL, March 12 (Yonhap) -- The South Korean currency fell against the U.S. dollar Thursday as global oil prices climbed amid concerns about supply disruptions stemming from heightened tensions in the Middle East.
The won opened at 1,480.1 per dollar, down 13.6 won from the previous session.
The currency had risen over the previous two sessions, rebounding from a 17-year low, after U.S. President Donald Trump hinted that the war in the Middle East could end soon and global oil prices showed signs of stabilizing.
But the won weakened again in line with rising global oil prices as Iran effectively halted cargo traffic through the Strait of Hormuz. Iran fired on commercial ships and targeted Dubai International Airport, stepping up efforts to disrupt traffic in the oil-rich Persian Gulf.
The surge in oil prices came despite the International Energy Agency (IEA)'s decision to release its largest-ever oil stockpile of 400 million barrels to mitigate supply disruptions.
The United States also said it plans to release 172 million barrels from its Strategic Petroleum Reserve starting next week.
The foreign exchange and stock markets have shown high volatility since last week as the U.S.-Israeli attacks on Iran have escalated tensions across the broader region.
Higher oil prices put downward pressure on the Korean won as they increase the country's demand for dollars to pay for crude imports. South Korea depends heavily on energy imports.
The benchmark Korea Composite Stock Price Index (KOSPI) opened 0.75 percent lower at 5,567.65 on Thursday, tracking overnight losses on Wall Street amid concerns about a prolonged war.
Truck drivers refuel their vehicles at a gas station at Yeongdong Expressway in Yongin, Gyeonggi Province, on March 10, 2026. (Yonhap)
graceoh@yna.co.kr
(END)
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Korean won falls against dollar amid rising oil prices as Middle East crisis drags on

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- Korea to release 22.46 mln barrels from oil reserves under IEA release plan Keywords #Korean won Articles with issue keywords Most Liked U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats (News Focus) How 'The King's Warden' captured 10 mln Korean viewers BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones Most Saved (News Focus) How 'The King's Warden' captured 10 mln Korean viewers (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (LEAD) S.

### Implications
- President Donald Trump hinted that the war in the Middle East could end soon and global oil prices showed signs of stabilizing.
- Truck drivers refuel their vehicles at a gas station at Yeongdong Expressway in Yongin, Gyeonggi Province, on March 10, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles (LEAD) U.S. launches Section 301 trade investigation into S.
- Korea, China, Japan, 13 other economies: USTR U.S. to release 172 mln barrels from strategic oil reserve: energy secretary (LEAD) Seoul shares open lower amid extended woes over oil prices; won sharply down (2nd LD) Trump says 'we've won' in war with Iran S.
- Korea to release 22.46 mln barrels from oil reserves under IEA release plan Keywords #Korean won Articles with issue keywords Most Liked U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats (News Focus) How 'The King's Warden' captured 10 mln Korean viewers BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones Most Saved (News Focus) How 'The King's Warden' captured 10 mln Korean viewers (News Focus) Topping 10 mln, 'The King's Warden' offers rare boost to Korean cinema U.S. transport aircraft spotted departing Osan Air Base amid Patriot relocation speculation (LEAD) S.

### Expert Commentary
This article covers oil, korea, korean topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 662.