As the geopolitical crisis in the Middle East has been brought up again, international oil prices have surged, causing stocks related to oil themes to fluctuate.
Joongang Enervis shares were traded at 15,690 won in the Korea Securities Dealers Automated Quotations (KOSDAQ) market at 9:15 a.m. on the 12th. The stock price rose by 17.35% (2,320 won) from the previous day. At the same time, Hung-gu Oil and Korea Oil are also strong.
In the New York Mercantile Exchange, West Texas Intermediate (WTI) for July delivery is currently priced at $68.66 per barrel, marking an increase of about 5%. In the London ICE Futures Exchange, the price of Brent crude for August has surpassed the $70 per barrel mark.
Ahead of the sixth nuclear negotiations between the United States and Iran, the potential for a geopolitical crisis in the Middle East has increased demand for crude oil futures. Reuters reported on the 11th, citing sources, that the U.S. government is preparing to withdraw from the Iraqi embassy and that the possibility of the withdrawal of U.S. military families stationed in Bahrain has also been mentioned.