TASNIM NEWS reported sounds heard at sea were caused by warning-fire exchanges directed at vessels inside the Strait of Hormuz.

South Korea will ease mandatory private-sector oil stock requirements from 40 days to 20 days, effective from the 29th, releasing oil equivalent to 20 days’ consumption, a Ministry of Trade, Industry and Energy official said on the 28th. Seoul has not decided to tap state oil reserves and will keep them as a last-resort tool. The move is intended to fulfil a commitment to the International Energy Agency.

美联储保尔森：货币政策具有适度限制性，处于适当水平。