The government has decided to lower the resource security crisis alert for crude oil as concerns over supply shortages have eased following the start of ceasefire negotiations in the Middle East conflict.

The crude oil crisis alert will be downgraded from 'Alert' (the third of four levels) to 'Caution' (the second level).

The crisis alert for natural gas will be fully lifted from 'Caution,' the second level.

Moon Shin-hak, Vice Minister of Trade, Industry and Energy, announced this plan during the State Council meeting and Emergency Economic Countermeasure Meeting held at the Presidential Office today (June 30).

The resource security crisis alert system operates on four levels: 'Attention,' 'Caution,' 'Alert,' and 'Serious.'

Under the Special Act on National Resource Security, these alerts are issued by comprehensively considering the severity of the situation and its impact on public livelihood and the national economy.