Trio Petroleum's Cooling Off After Hours After 169% Rally - What Made TPET Shoot Up?

Trio Petroleum Corp. (NYSE:TPET) shares are trending Monday night.

TPET fell 8.83% to $1.03 in after-hours trading on Monday.

The drop in the extended trading session followed a massive 169.05% intraday gain amid Middle East oil supply fears.

They closed the regular session at $1.13, according to Benzinga Pro data.

Strait Threat Reverses TPET Gains

TPET surged on U.S.-Israeli strikes on Iran and Tehran’s move to close the Strait of Hormuz, a key route for global crude.

The California-based oil and gas company holds a majority stake in 9,300 acres at California's South Salinas project, including the Presidents and Humpback fields, along with assets in Utah's Asphalt Ridge and Canadian heavy-oil regions.

Regional Attacks Fuel Volatility

The stock movement coincides with QatarEnergy halting LNG operations at Ras Laffan and Mesaieed after attacks, and Saudi Aramco shutting its 550,000-bpd Ras Tanura refinery following a drone strike, signaling concerns about disruptions across the Middle East supply chain.

TPET remains sensitive to commodity prices and geopolitics.

Market Sentiment

Energy stocks showed notable swings in both sessions.

Battalion Oil Corp (NYSE:BATL) gained 113.77% intraday and added 32.63% in after-hours trading, while TMD Energy Ltd (NYSEAMERICAN: TMDE) surged 231.82% during the regular session but dropped 6.85% after hours.

Trading Metrics, Technical Analysis

Trio Petroleum has a market capitalization of $13.9 million and a 52-week trading range of $0.36 to $2.29.

The stock has a Relative Strength Index (RSI) of 76.14.

TPET has dropped 18.12% over the past 12 months, underscoring challenges for its longer-term outlook.

Currently, the stock is positioned at about 39.9% of the way up from its 52-week low.

Benzinga's Edge Stock Rankings indicate that TPET has a negative price trend across all time frames.

Photo Courtesy: Shutterstock AI

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.