[Featured Stock] S-Oil Rises on Refining Margin Improvement
[Asia Economy Reporter Song Hwajeong] S-Oil's stock price has been strong for the second consecutive day due to an improvement in refining margins.
As of 9:41 AM on the 8th, S-Oil was trading at 97,400 KRW, up 2,300 KRW (2.42%) from the previous day. Following a 3% increase the day before, the stock continues its strong performance for the second day.
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This strength is interpreted as being due to expectations of improved refining margins. Hana Financial Investment evaluated S-Oil on this day, stating that the recent clear improvement in refining margins makes it a favorable period for buying at a low point, with a high possibility of stock price increase. Yoon Jaesung, a researcher at Hana Financial Investment, said, "Diesel and kerosene margins are recording the highest levels of the year, driving Asia's refining margin to a record high (5.7 dollars per barrel). We expect a clear improvement in refining margins from the end of the year to early next year and recommend buying at low points considering this."
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