🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Why Camber Energy, Indonesia Energy And Imperial Petroleum Shares Are Moving

Published 08/03/2022, 18:42
Updated 08/03/2022, 19:43
© Reuters.  Why Camber Energy, Indonesia Energy And Imperial Petroleum Shares Are Moving
IXIC
-
CEI
-
INDO
-
IMPP
-

Camber Energy Inc (NASDAQ: CEI), Indonesia Energy Corp Ltd (NASDAQ: INDO) and Imperial Petroleum Inc (NASDAQ: IMPP) shares are all trading lower Tuesday, possibly on profit taking, amid continued volatility spawned by an increase in the price of oil.

Shares of smallcap oil penny stocks have seen marked volatility on heavy volume due in recent sessions due to supply concerns. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

The Russia-Ukraine conflict has caused volatility in the broader market and put pressure on some countries to become less dependent on Russian gas. The United States today announced a ban on Russian oil, natural gas and coal imports.

The cost of a barrel of crude oil hit an intraday high and 13-year high of $129.00 Tuesday morning and is trading around $128.00 at the time of publication.

Camber Energy is trading lower by 1.2% at $1.26.

Indonesia Energy is trading lower by 34.1% at $40.53.

Imperial Petroleum is trading lower by 30.0% at $5.25.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.