[Edaily Reporter kyoungeun kim ] On the 12th, oil refining stocks are showing a uniform upward trend in early trading on the KOSPI market. Expectations of improved refining margins due to the sharp rise in international oil prices appear to be driving up stock prices.
According to MP Doctor, as of 9:27 a.m. today, S-OilCorporation(010950)is trading at 148,200 won, up 6,600 won (4.66%) from the previous day.
At the same time, GS Holdings(078930)is also trading at 103,400 won, up 5,900 won (6.05%) from the previous day.
This upward trend is believed to be driven by the fact that international oil prices surged by more than 5% the previous day, breaking through the $80 per BARREL mark, and continued to rise today.

On the 11th (local time), October-delivery Brent crude futures on the ICE Futures Exchange closed at $88.91 per barrel, up 1.4% from the previous trading day. September-delivery West Texas Intermediate (WTI) crude futures on the New York Mercantile Exchange also closed at $83.20 per barrel, up 1.3% from the previous session.
Originally, the United States and Iran had agreed to open the Strait of Hormuz and lift the maritime blockade against Iran, and were scheduled to hold follow-up negotiations over a 60-day period to discuss Iran’s denuclearization and other issues. However, with negotiations stalling amid a military standoff between the two sides, uncertainty has reached a peak ahead of the August 16 deadline for reaching an agreement.
In particular, remarks made the previous day (local time) by a senior Iranian hardliner stoked market fears of supply disruptions originating in the Middle East. Mohsen Rezaei, former commander of the Islamic Revolutionary Guard Corps (IRGC) and now Secretary-General of Iran’s Supreme National Security Council (SNSC), warned during a meeting with the Chinese ambassador to Iran, “We will never open the Strait of Hormuz unless the U.S. ends the war and unfreezes our assets.”
Secretary-General Rezaei demanded stringent preconditions, including the lifting of U.S. sanctions and the return of frozen funds, as well as an end to regional conflicts, including those in Lebanon and the Gaza Strip. He also drew a clear line, stating that even if an agreement were reached with Oman regarding the strait’s shipping lanes, this would be a separate issue from maintaining the blockade of the strait.
However, Pakistani Defense Minister Kawaja Asif, who is mediating the ceasefire negotiations, hinted at the possibility of an agreement in an interview on the same day, stating, “Both sides are close to a settlement,” prompting the market to closely monitor the progress of the negotiations.