As the conflict between Israel and Iran escalates, discussions about the possibility of U.S. intervention have led to a sharp rise in international oil prices. Domestic stock markets are also seeing strong performances in refining and oil stocks.
SK Innovation shares were traded at 95,700 won on the KOSPI market at 9:15 a.m. on the 18th. The stock price rose by 5.05% (4,600 won) compared to the previous day. Companies identified as oil theme stocks, such as Hung-gu Oil and Joongang Enervis, are also performing strongly.
As Israel and Iran continue their exchanges for the fifth day, the possibility of direct U.S. involvement is increasing. U.S. President Donald Trump held a meeting with his national security team overnight to discuss whether the U.S. would intervene in this conflict.
It is crucial whether President Trump will deploy the bunker buster 'GBU-57' to destroy Iran's underground nuclear facilities. President Trump stated on social media that Iran should "unconditionally surrender."
As the geopolitical crisis in the Middle East intensifies, international oil prices are surging again. On the 17th (local time), Brent crude for August delivery recorded $76.45 per barrel on the London International Petroleum Exchange, rising 4.4% in a single day. In addition, West Texas Intermediate (WTI) crude rose 4.3% to $73.27 per barrel on the New York Mercantile Exchange.