Trio Petroleum Soars 169% on Strait of Hormuz Closure, Then Pulls Back
Trio Petroleum shares surged 169% intraday on U.S.-Israeli strikes and Tehran’s Strait of Hormuz closure before retracing 8.8% in extended trading. The California-based explorer holds majority stakes in 9,300 acres at South Salinas and operates assets in Utah’s Asphalt Ridge and Canada’s heavy-oil regions.
1. Intraday Rally and Pullback
Trio Petroleum shares surged 169.05% during Monday’s regular session, closing at $1.13 before retracing 8.83% to $1.03 in after-hours trading. This extreme volatility reflects sudden shifts in investor sentiment driven by geopolitical developments.
2. Geopolitical Supply Concerns
U.S.-Israeli strikes on Iran and Tehran’s closure of the Strait of Hormuz prompted fears of crude supply disruptions, while QatarEnergy halted LNG output at Ras Laffan and Mesaieed and Saudi Aramco shut its 550,000-bpd Ras Tanura refinery.
3. Asset Portfolio and Exposure
The California-based explorer holds majority stakes in roughly 9,300 acres at the South Salinas project, including the Presidents and Humpback fields, and operates heavy-oil assets at Utah’s Asphalt Ridge and in Canada’s Saskatchewan and Alberta regions.
4. Market Metrics and Outlook
With a market capitalization of $13.9 million, a 52-week trading range of $0.36 to $2.29 and an RSI of 76.14, Trio’s stock has fallen 18.12% over the past 12 months, underscoring its sensitivity to commodity prices and geopolitical news.