Domestic oil refining and petroleum-related stocks rose broadly in early trading on the 2nd as escalating Middle East geopolitical risks and higher international oil prices fueled buying. At 10:02 a.m., S-Oil climbed 11,200 Korean won, or 7.53%, to 160,000 won. SK Innovation gained 8,000 won, or 5.73%, to 147,600 won, while GS rose 3,000 won, or 2.94%, to 100,520 won. Petroleum distributors and smaller oil companies also advanced, including Daesung Industry, Hung-gu Oil and Joong Ang Enervis. Investor sentiment was supported by concerns that military conflict, including additional U.S. troop deployments to the Middle East, could disrupt crude supplies, while higher oil prices were seen improving refining margins (the profit spread between crude and refined products). News that Chinese refiners had suspended petroleum product exports outside Hong Kong and Macau until further official notice added to supply concerns. December Brent crude futures rose 4.37% to $102.31 a barrel on the 1st local time, while November WTI crude futures (U.S. oil benchmark contracts) gained 2.71% to $92.87.