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.
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.
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