Indonesia Energy (INDO) Stock Surges 50% As Middle East Tensions Drive Oil Prices Higher

Shares of Indonesia Energy Corp Ltd (NASDAQ:INDO) are trading sharply higher Friday afternoon as escalating geopolitical tensions in the Middle East propel crude oil prices to multi-year highs.

Thursday’s Israeli strikes on Iran have ignited fears of a wider regional conflict, threatening to disrupt global oil supplies and creating a bullish environment for energy producers.

What To Know: West Texas Intermediate crude futures saw a dramatic spike early Friday, briefly touching $77.50 a barrel before settling. This surge marks oil’s most substantial weekly gain since October 2022, with analysts from ING suggesting prices could soar to $120 per barrel if the vital Strait of Hormuz is impacted.

As an oil and gas exploration company with operations in Indonesia, INDO could be well-positioned to benefit from the sustained increase in energy prices.

Read Also: What’s Going On With Carvana Shares Today?

The market’s reaction has been swift Friday, with investors flocking to energy equities amid the uncertainty. The potential for a prolonged supply crunch has heightened the value of companies with established production and exploration assets.

For Indonesia Energy, the sharp rise in oil prices could directly boost its revenue prospects, fueling the recent rally in its stock as traders anticipate stronger future earnings.

Price Action: According to data from Benzinga Pro, Indonesia Energy Corporation is up 54% to $5.45 Friday afternoon on massive session volume of over 30 million shares, dwarfing its 100-day average volume of approximately 375,000 shares.

Read Also: What’s Going On With MasterCard Shares Today?

How To Buy INDO Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Indonesia Energy Corp’s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, INDO has a 52-week high of $5.88 and a 52-week low of $2.06.

Image: Shutterstock