[Market Focus] S-Oil Rises for Third Day, Recovers 70,000 Won Level After 16 Months

S-Oil continued its upward trend for the third consecutive day, recovering to the 70,000 won level during trading.

As of 9:25 a.m. on October 22, S-Oil was trading at 70,300 won on the Korea Exchange, up 2,200 won (3.23%) from the previous day. The stock climbed as high as 71,000 won during the session, reaching a new 52-week high. This is the first time S-Oil’s share price has surpassed 70,000 won since early June last year.

The recent strength in S-Oil is attributed to expectations for a recovery in second-half earnings, driven by a rebound in refining margins. Hanwha Investment & Securities predicted that S-Oil’s third-quarter results this year would meet market expectations, with sales of 8.1 trillion won and operating profit of 274.3 billion won. Lee Yongwook, a researcher at Hanwha Investment & Securities, stated, “S-Oil’s third-quarter performance will remain solid due to improved refining margins and the rebound in oil prices,” adding, “With refining margins rising further in October, the operating environment in the fourth quarter is expected to improve even more.”