Three energy stocks more than double, lead small-cap gains as oil prices rise
Shares of three energy stocks led gains in the small-cap segment on Monday / Photo: Trio Petroleum
The biggest gainers in the small-cap segment on Monday were three energy companies, whose shares surged more than 149% on the day. The stocks rallied on concerns over oil supplies in the Middle East amid renewed hostilities between Iran and the U.S. and Israel, Benzinga reported.
Details
Shares of the three companies led gains among small caps on Monday, according to Yahoo Finance data.
Shares of Malaysian marine fuel supplier TMD Energy, which serves ship owners, operators, and oil traders, and has a market capitalization of just $72 million on the Nasdaq, jumped nearly 232% on Monday to $3.00 per share. That is the highest level since last year’s IPO, when shares were sold at $3.25 apiece. In early trading on Tuesday, the stock has added another 13%.
U.S. oil producer Trio Petroleum, with a market capitalization of $13.8 million on the New York Stock Exchange, soared almost 167% yesterday to $1.12 per share, the highest mark since October. The stock has gained a further 54% in early trading on Tuesday. Trio Petroleum is developing the South Salinas project in California and holds interests in several other potentially large oil fields.
Shares of Chinese oilfield equipment manufacturer STAK surged 149.4% to $1.00 apiece on the Nasdaq on Monday, August 2025 being the last time the stock traded that high. In premarket trading on Tuesday, the stock is up another 5.66%. The company’s market capitalization stood at $20.4 million as of Monday.
Context
The rally came amid rising tensions in the Middle East, Benzinga said. With the conflict escalating, the Iranian Revolutionary Guards Corps announced the closure of navigation through the Strait of Hormuz, a critical artery for global oil shipments, and threatened to attack ships attempting to transit the strait. Several tankers have reportedly been hit already, and about 150 tankers and other vessels have been blocked in the area of the strait area.
Oil prices jumped in response. In trading on Tuesday, Brent crude rose more than 9% to above $85 per barrel. April futures for U.S. WTI were up 7% at $76.40 per barrel.
Separately, on Monday, QatarEnergy halted operations at two of its LNG facilities, while Saudi Aramco suspended production at its Ras Tanura refinery following a fire caused by an Iranian attack, Benzinga noted.
