Why Is TMD Energy Stock Surging Friday?

TMD Energy Ltd. (AMEX:TMDE) shares climbed in Friday’s premarket session. This follows a massive 37.56% gain during Thursday’s trading.

Year-to-date, TMDE is up 606.98%.

The Malaysia-based company supplies marine fuel — including high sulfur, low sulfur, and very low sulfur fuel oil — to ships at sea. It operates a fleet of about 15 bunkering vessels.

Middle East War Sends Oil Prices Surging

WTI crude oil futures climbed above $84 per barrel on Friday. That puts crude on track for its biggest weekly gain since 2022, according to Trading Economics data.

The driver: an escalating U.S.–Israel–Iran war now entering its seventh day.

The conflict has nearly halted shipping through the Strait of Hormuz. That chokepoint normally moves about 20 million barrels of oil and petroleum products daily.

Iran Conflict Escalates, Shipping Routes Disrupted

Israel’s military chief, Eyal Zamir, said the joint U.S.–Israel campaign is entering a “next phase” aimed at further weakening Iran’s military, per Al Jazeera.

The Israel Defense Forces said its air force destroyed six Iranian ballistic missile launch platforms before they could fire toward Israel. Three Iranian air defense systems were also destroyed, said IDF spokesperson Avichay Adraee.

Technical Analysis

Over the past year, TMD Energy has faced challenges, reflected in a 16.25% decline. However, current technical indicators suggest a turnaround.

The stock is trading significantly above its key moving averages: 199.3% above the 20-day Simple Moving Average (SMA), 301.6% above the 50-day SMA, 338.9% above the 100-day SMA, and 285.9% above the 200-day SMA.

The RSI stands at 66.11, suggesting that the stock is neither overbought nor oversold.

TMDE Price Action: TMD Energy shares were up 16.09% at $3.52 during premarket trading on Friday, according to Benzinga Pro data.

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