Domestic refining-related stocks were up early on the 4th. The rise is seen as stemming from continued gains in international oil prices as tensions persist in the Middle East following clashes between the United States and Iran.
As of 9:18 a.m. on the day, S-Oil(010950) shares were trading at 162,700 won on the main board, up 10.01% (14,800 won) from the previous session.
SK Innovation(096770) was also up 4.51% (5,900 won) at 136,700 won. KOSDAQ-listed Hung-gu Oil(024060) was also showing gains of over 2%.
U.S. Vice President JD Vance said on the 3rd (local time) that the United States will not talk with Iran unless Iran stops attacks on merchant ships.
He also noted that the United States has "many additional tools" it can use to pressure Iran going forward, citing economic, military and diplomatic pressure. However, he avoided specifics, saying which tools to use is for U.S. President Donald Trump to decide.
Overnight, international oil prices ended mixed. October-delivery West Texas Intermediate (WTI) futures rose 0.32% from the previous session to $91.30 a barrel at the close. It marked a fourth straight day of gains. November-delivery Brent futures fell 0.12% to $95.52 a barrel at the close.