[Featured Stock] Heunggu Oil Soars Over 17% Despite KOSPI and KOSDAQ Dropping Over 3%

[Asia Economy Reporter Lee Seon-ae] As the KOSPI and KOSDAQ indices fell more than 3%, most stocks showed weakness, while Heungkuk Oil is showing strength supported by rising international oil prices.

As of 2:21 PM on the 26th, Heungkuk Oil is trading at 8,270 won, up 18.48% from the previous day.

On the 25th (local time) at the New York Mercantile Exchange (NYMEX), the April delivery futures for West Texas Intermediate (WTI) crude oil rose $0.31 (0.49%) to $63.53 per barrel compared to the previous session. This is the highest since May 1, 2019. It is interpreted as reflecting expectations that oil demand will quickly recover once the COVID-19 crisis is resolved.