South Korea's Import Prices Rise for First Time in Four Months on Oil Price Surge Amid Middle East Tensions

South Korea's import prices rose in September for the first time in four months, driven by higher oil prices as renewed turmoil in the Middle East pushed crude costs up, the central bank said Friday. Preliminary central bank data showed the import price index climbed 1.7% from the previous month, ending a three-month decline that began in June. The central bank said the turnaround was due to Dubai crude, the benchmark for South Korea's oil imports, which jumped 28.1% month on month in September to $113.71 per barrel, as military tensions in the Middle East flared again. (Sina Finance)