[Market Focus] Is the Middle East War Ending?... Airline Stocks Rise on Falling Oil Prices

Airline stocks, which had previously plummeted on news of falling oil prices, are now showing strong gains.

As of 10:35 a.m. on March 10, Korean Air is trading at 24,225 won, up 8.15% (1,825 won) from the previous trading day. Hanjin KAL (+7.63%), Jeju Air (+7.61%), Jin Air (+5.53%), T'way Air (+4.10%), and Asiana Airlines (+3.60%) are also on the rise.

As the possibility of a prolonged war between the United States and Israel against Iran grows, international oil prices, which had exceeded $100 per barrel during trading on March 9 (local time), fell back to the $80-per-barrel range.

Banks on Wall Street had pointed out that if the Strait of Hormuz, through which about 20% of the world's crude oil and liquefied natural gas (LNG) shipments pass, remains blocked, oil prices could exceed $130–$150 per barrel.

However, oil prices dropped after finance ministers from the Group of Seven (G7) issued a joint statement regarding the release of strategic oil reserves, and U.S. President Donald Trump suggested the possibility of ending the war. By the close of the New York Stock Exchange, Brent crude was trading at $88.42 per barrel, down 4.61% from the previous day's close, while West Texas Intermediate (WTI) was at $84.94 per barrel, down 6.56%.

This content was produced with the assistance of AI translation services.