Following the United States' direct intervention in the Israel-Iran war on Sunday through airstrikes on three nuclear sites in Iran, concerns are growing over the potential impact of Middle East tensions on global oil and shipping prices.

The average weekly prices of gasoline and diesel at domestic gas stations in South Korea turned upward in the third week of June for the first time in six weeks, on the back of gains in international oil prices. According to Korea National Oil Corp's oil price management system, the average price of gasoline stood at 1,635.5 won ($1.19) per liter, up 7.8 won from a week earlier.

A consumer refuels at a self-service gas station in Seoul on Sunday. (Yonhap)
A consumer refuels at a self-service gas station in Seoul on Sunday. (Yonhap)

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