Stock Markets Plunge Deep Into the Red as Oil Prices Jump Above $100
17 Articles
17 Articles
Most of the Gulf, European and Asian markets declined as the confrontation between America and Iran escalated and oil rose above $104, amid concerns about the disruption of energy supplies across Hormuz.
(New York = Yonhap News) Correspondent Kim Yeon-sook = As the armed conflict between the U.S. and Iran intensifies, following Brent crude, West Texas Intermediate (WTI) also... barrels on the 10th (local time)
As the war between the U.S. and Iran intensifies, international oil prices have surpassed $100 per barrel for the first time in two months. Although U.S. President Donald Trump stated that the war would end and oil prices would drop immediately after the midterm elections this coming November, key White House officials are discussing the possibility that the war could continue throughout his term.
Domestic oil refining stocks are showing strong gains across the board in early trading on the 10th. This is interpreted as investor buying flocking to domestic oil-related stocks as international oil prices surpassed the $100 per barrel mark amidst intensifying geographical tensions between the U.S. and Iran. As of 9:37 AM on this day, Heunggoo Petroleum was trading at 14,780 won on the KOSDAQ market, a sharp increase of 2,690 won (22.25%) from…
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