[Edaily Reporter Kim Kyung-eun ] KoreanAirLines(003490)is trading higher in early trading on the 27th amid a sharp drop in international oil prices.
According to MP Doctor, as of 9:10 a.m. today, KoreanAirLines is trading at 27,000 won, up 1,550 won (6.09%) from the previous trading day.
This is interpreted as a result of international oil prices surging nearly 5% after the U.S. and Iran halted mutual attacks for two consecutive days. When oil prices fall, investor sentiment toward airline stocks tends to improve as expectations grow for improved profitability due to reduced fuel costs for airlines.
On the 26th (local time), West Texas Intermediate (WTI) crude futures fell 4.9% to $84.94 per barrel, while Brent crude futures dropped 4.8% to $92.14. This reflects easing concerns over disruptions to Middle Eastern crude oil supplies as tensions in the region have subsided.
The United States, which had been conducting airstrikes for 13 consecutive days, has not carried out any airstrikes against Iran since the 24th. Iran has also stated that it will suspend military retaliation as long as the U.S. continues to refrain from attacking.
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