South Korean Refinery Stocks Rally on Higher Margin Expectations
South Korean refinery stocks rose sharply amid expectations of higher profit margins. China's restrictions on fuel exports, coupled with existing concerns about global oil supply chains due to Middle East tensions, are driving the rally.
South Korean refinery stocks rose sharply as expectations grew for higher profit margins, with China's restrictions on fuel exports adding to concerns about global oil supply chains that have already been strained by tensions in the Middle East. Shares of S-Oil, a Saudi Aramco-controlled South Korean refiner, climbed on the day.