Trio Petroleum Stock Rallies: What's Driving the Action?
Shares of Trio Petroleum are rallying Thursday as Middle East tensions push crude oil benchmarks to multi-month highs.
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Trio Petroleum Q3 EPS $(0.39) Up From $(1.57) YoY, Sales $348.581K Up From $192.395K YoY
Trio Petroleum (AMEX:TPET) reported quarterly losses of $(0.39) per share. This is a 75.16 percent increase over losses of $(1.57) per share from the same period last year. The company reported $348.581 thousand in
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Shares of oil and gas-related companies are trading higher as crude prices climb higher above $100 per barrel after an OPEC report indicated that Saudi Arabia's August oil production fell to the lowest level since 1990. Also, Houthi rebel advances in Yemen may also be viewed as a risk to marine energy transport in the Red Sea.
Trio Petroleum shares are trading lower after the company announced a 1-for-9 reverse stock split.