South Korea has extended its temporary ban on stockpiling petroleum products for another two months, the country’s Finance Minister Koo Yun-cheol announced. The decision comes as global energy supply concerns persist due to instability in the Middle East. The measure, initially imposed in March to prevent unfair trading, was set to expire next week but will now remain in effect for two additional months.

According to the state news agency Yonhap, the government introduced the restriction earlier this year to curb speculative hoarding of fuel products. The extension aims to stabilize the domestic energy market and ensure fair distribution amid fears of supply disruptions caused by ongoing conflicts in the Middle East.

Officials described the move as a precautionary step to mitigate potential risks to South Korea’s energy security while monitoring global developments closely.