Refining Stocks Surge as Middle East Armed Conflict Escalates [STOCK NOW]

 
[Financial News] Domestic refining stocks were rising early in the trading session after international oil prices surpassed $100 as geopolitical tensions between the United States and Iran intensified.
According to the Korea Exchange (KRX), as of 9:42 a.m. on the 10th, HUNG-GU OIL was trading at 15,000 won, up 2,910 won, or 24.07%, from the previous session. HUNG-GU OIL opened at 12,730 won, up 5.29%, before extending its gains to reach as high as 15,120 won, or 25.06% higher.
At the same time, Korea Petroleum Industries, Joong Ang Enervis, and SK Innovation were also advancing, gaining 15.76%, 11.84%, and 3.00%, respectively.
The United States Central Command (CENTCOM) said overnight that it had destroyed five Iranian oil tankers. Iran, meanwhile, claimed that it had retaliated by attacking a U.S. military base in Jordan with ballistic missiles.
November-delivery Brent crude oil settled at $101.21 per barrel, up $3.29, or 3.36%, from the previous session. It closed above $100 for the first time since July 23.
  

[email protected] Bae Han-geul Reporter