On the morning of the 23rd, the stock prices of refining companies are strong. This is due to the international oil prices soaring after Iran mentioned the possibility of blocking the Strait of Hormuz in response to attacks on U.S. nuclear facilities.

On the 22nd, with the expansion of Middle East risk due to the U.S. airstrike on Iran's nuclear facility, a price is displayed on the gas price information board in front of a gas station in Seoul, raising concerns over oil supply disruptions and rising fuel prices./Courtesy of Yonhap News.

As of 10:02 a.m. on the 23rd, Joongang Enervis is trading at 25,350 won, up 5,840 won (29.93%) compared to the previous transaction, marking the upper limit.

At the same time, Hung-gu Oil, Korea Oil, Daesung Energy, and others are also seeing their stock prices rise.

According to Iran's state-run Press TV on the 23rd, the Iranian parliament held an emergency session on the 22nd (local time) and passed a resolution to block the Strait of Hormuz. The final decision rests with the Supreme National Security Council (SNSC) of Iran.

The Strait of Hormuz is a crucial route through which 20-30% of the world's crude oil and liquefied natural gas (LNG) flow, and a blockade would inevitably lead to a surge in oil prices due to supply disruptions.

Currently, the price of August West Texas Intermediate (WTI) crude oil futures is trading at $75.51 per barrel, up 2.37% compared to the previous transaction. JPMorgan predicts that if the Strait of Hormuz is actually blocked, oil prices could surge to $120-$130 per barrel.