South Korean oil and refining stocks surged after Brent crude returned above $100 a barrel amid escalating armed clashes between the United States and Iran. Heungkuk Petroleum rose 21.42% from the previous session by 10:03 a.m. on the 10th, after gaining as much as 25% to 15,120 won. Korea Petroleum advanced 14.98%, while Joong-Ang Enervis climbed 11.27%. Brent crude for November delivery settled at $101.21 a barrel on the 9th, up $3.29, or 3.36%, marking its first close above $100 since July 23. West Texas Intermediate (U.S. benchmark crude) for October delivery ended at $96.05, up $3.02, or 3.25%. The market move followed the U.S. Central Command's statement that five Iranian oil tankers had been destroyed and Iran's claim that it retaliated by striking a U.S. military base in Jordan with ballistic missiles. The developments renewed concerns over crude-supply disruptions. Investor demand for oil-related shares was also supported by expectations that prices could remain high. U.S. President Donald Trump previously signaled that oil prices could stay elevated at least through the U.S. midterm elections in November because of the conflict's fallout. Dan Struyven, co-head of global commodities research at Goldman Sachs, said on CNBC that the risk of oil rising above $120 a barrel is growing.