Middle East Tensions Fuel South Korean Refinery Rally

The Middle East situation has driven up oil prices and sent investors flocking to domestic refineries and energy stocks. The market is reacting to heightened geopolitical risks in the region, with crude supply disruptions feared amid growing tensions.

South Korean refiners are among the top gainers on the day, with S-Oil trading at 160,000 won, up 11,200 won (7.53%) from the previous session. SK Innovation followed suit, rising to 147,600 won, a jump of 8,000 won (5.73%). GS Holdings also saw its stock price surge to 100,520 won, a gain of 3,000 won (2.94%).

The oil distribution and small- to mid-cap oil stocks are also gaining traction, with Daesung Industrial rising by 105 won (2.56%) to 4,205 won, and Hung-gu Oil up 280 won (2.34%) at 12,260 won.