[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.

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."