[Edaily Reporter Shin Ha-yeon ] As international oil prices rise amid ongoing military tensions in the Middle East, STX Green Logis(465770)is trading higher on expectations of rising shipping rates.

According to MP Doctor on the 21st, as of 9:22 a.m. today, STX Green Logis is trading at 4,970 won, up 20.05% from the previous trading day. Following its hit of the daily price limit the previous day, the stock is seeing another sharp rise today.

This surge is believed to be driven by expectations that shipping rates will rise amid growing concerns over disruptions to crude oil shipments through the Strait of Hormuz, as military clashes between the U.S. and Iran continue.

On the 20th (local time), September-delivery Brent crude futures on the ICE Futures Exchange closed at $89.22 per barrel, up 1.27% from the previous session. August-delivery West Texas Intermediate (WTI) crude futures on the New York Mercantile Exchange also closed at $83.23 per barrel, up 0.90%.

Based on closing prices, this marks the highest level for Brent crude since June 11 and for WTI since June 12. Brent crude even briefly surpassed $90 per barrel during the trading session after the U.S. announced that one additional soldier had been killed in recent clashes with Iran.

In addition, supply chain concerns have intensified as Yemen’s pro-Iranian Houthi rebels declared a naval blockade against Saudi Arabia. There are predictions that if shipping disruptions extend from the Strait of Hormuz to the Bab el-Mandeb Strait—the gateway to the Red Sea—freight rates could rise due to ships having to take detours and longer transit times.