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South Korean Refiners Surge Amid Mideast Crisis; S-Oil Up 38% in July as Refining Margins Hit $48/Barrel

Stocks Commodities

2026-07-20 09:59:47

S-Oil-3.47%

SK Innovation-0.51%

GS-0.84%

According to Korean Economic Daily, South Korean refiner stocks surged in July as geopolitical tensions drove refining margins sharply higher. S-Oil rose 37.87% for the month to 146,700 won on July 20, while SK Innovation and GS each gained over 23%. The combined refining margin jumped from $29 per barrel in June to $48 by mid-July amid escalating U.S.-Iran conflict and supply disruptions. Hana Securities estimates S-Oil's Q2 operating profit at 1.02 trillion won, exceeding consensus by 13%, with analysts predicting the sector's strong performance may extend through 2026.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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