Asian oil buyers are assessing stockpiles and Middle East alternatives as the Iran-Iran conflict escalates. Asia will likely be the most affected due to any disruption in Middle East oil supply, as it imports two-thirds of its crude from the Gulf. The Strait of Hormuz, a narrow waterway connecting the Gulf to the Arabian Sea, carries the equivalent of 20% of global oil consumption on a typical day. However, Indian state refiners have begun searching for alternative supplies. The South Korean government plans to offer petroleum from its stockpiles to local industries if supply disruptions are prolonged.