国际油价急跌引发韩国新能源股集体回调

Shares of renewable energy companies, which had recently rallied, are falling in unison as international oil prices plunged by around 5%. As concerns over crude supply disruptions from the Middle East eased, profit-taking is flooding in, centered on stocks that had risen on the back of higher oil prices.
According to the Korea Exchange (KRX), Doosan Fuel Cell was trading at 30,000 won on the 27th, down by its daily price limit of 29.91%. SK Eternix also plunged 22,200 won (27.44%) from the previous trading day to 58,700 won. In addition, HD Hyundai Energy Solutions was trading at 133,400 won, down 18.66%, while SK Oceanplant was down 18.91% at 14,880 won.
Renewable energy stocks had recently posted a steep rise, driven by a surge in international oil prices amid heightened military tensions between the United States and Iran, coupled with expectations for the government's policy to promote power purchase agreements (PPAs). SK Eternix, in particular, hit its upper limit on the 23rd of this month, with its share price breaking above 80,000 won. The move was attributed to growing expectations of expanded demand for alternative energy as Middle East risks reignited.
However, the United States refrained from airstrikes on Iran starting the 24th after 13 consecutive days, and Iran stated it would halt military responses as long as the U.S. maintained its suspension of attacks, easing concerns over Middle East crude supply disruptions. As international oil prices plunged, investor sentiment toward renewable energy stocks, which had been considered beneficiaries of the recent oil price rise, is cooling rapidly.
According to Bloomberg, as of 8:30 a.m. KST on the same day, September Brent crude futures and West Texas Intermediate (WTI) futures were trading at $92.04 and $84.95 per barrel, respectively, each down 4.9% from the previous trading day. Brent crude at one point fell to $89.58 during the session, dropping below the $90 level.
Still, some analysts say uncertainty has not been fully resolved. Yemen's Houthi rebels attacked Saudi Arabia's Aramco oil facilities on the 25th, and tensions surrounding the Middle East situation continue amid a prolonged armed conflict between the United States and Iran. Given that Brent crude has surged more than 25% this month alone, the selling is also interpreted as profit-taking following the short-term spike.