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South Korea is highly dependent on oil imports relative to GDP, and its stocks and won have been hit by the September 14 attacks on Saudi refineries and an ongoing trade dispute with Japan. Crude has largely erased its roughly 15% post-attack surge, but the shock reversed a won rally as investors added bearish bets.
Oil-driven pressure on the won raises Korean feed import costs in local terms, and energy price swings feed through to biofuel and freight economics.
reuters.comHayoung ChoiSep 20, 2019Not enough comparable past events yet for a historical read.
After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
