Trio Petroleum Corp (NYSE: TPET ) shares are trading higher Thursday morning as investors reacted to a sharp rise in crude prices following a major Middle East supply shock, a development that matters directly for the oil and gas explorer. Here’s what investors need to know .
Trio Petroleum stock is surging to new heights today. What’s driving TPET stock higher?Trio Petroleum Outlook Closely Tied To Oil Prices
Trio describes itself as an exploration, development and production company with operations in Saskatchewan, Monterey County, California and Uintah County, Utah, meaning its outlook is closely tied to moves in energy markets.
That sensitivity is in focus after fresh reports said the U.S.-Iran war had intensified, while U.S. officials prepared a 172 million-barrel release from the Strategic Petroleum Reserve in an effort to contain energy costs.
Goldman Warns Of Largest Oil Supply Shock Ever
The bigger driver for TPET, however, is the oil-price reaction itself. Goldman Sachs said disruption near the Strait of Hormuz now represents the largest oil supply shock on record, with Persian Gulf exports falling to roughly 3% of normal levels.
The bank raised its Brent crude forecast to an average of $98 in March and April and warned prices could climb even higher if the disruption persists. Front-month West Texas Intermediate crude, as tracked by the United States Oil Fund, was already up about 6% Thursday morning near $95 a barrel.
That is significant for Trio because higher oil prices can improve expectations for realized pricing, revenue potential and asset value. For smaller upstream companies like TPET, changes in crude prices can have an outsized effect on sentiment and valuation.
Trio Petroleum RSI Signals Recent Bullish Momentum
Trio Petroleum RSI has mostly fluctuated within the neutral range (30–70) over the past year, with occasional dips into oversold territory below 30 and brief moves toward overbought levels.
Recently, the indicator spiked above the 70 overbought threshold before easing back, signaling strong bullish momentum but suggesting the rally could face short-term consolidation.
TPET Shares Surge Thursday Morning
TPET Price Action: Trio Petroleum shares were up 20.27% at $1.78 at the time of publication on Thursday, according to Benzinga Pro data .
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here .
Posted In: News Movers Trading Ideas benzai Retail Investor Stocks why it's moving