International oil prices have surged, leading to a strong performance by oil distributor Hanjin Oil.
On September 10, the Korea Exchange reported that at 9:30 a.m., Hanjin Oil shares rose by 2,300 won (19.02%) to 12,090 won. Other energy-related stocks, including SK Innovation (up 2.92%), Kido Chemical (up 3.18%), and Korea Shell Oil (up 1.19%), also experienced gains.
The rise in energy stocks is attributed to renewed concerns over military conflicts in the Middle East and increasing security fears surrounding major oil-producing countries and transportation routes, which have heightened worries about soaring international oil prices. The U.S. Central Command announced that it had destroyed five Iranian oil tankers, while Iran claimed to have retaliated by attacking a U.S. military base in Jordan with ballistic missiles.
As a result, Brent crude futures have surpassed $100 per barrel, reflecting growing concerns over energy supply stability, which has attracted investor interest in related companies.
Particularly, fears of disruptions in the Strait of Hormuz, a critical passage for global oil and liquefied natural gas (LNG) transport, have significantly influenced investor sentiment. The Strait of Hormuz is a strategic chokepoint through which one-third of the world's LNG supply passes. Analysts warn that escalating military tensions could severely impact the global natural gas supply chain.
* This article has been translated by AI.
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