Battalion Oil Shares Jump With Traders Looking to BATL on Iran Tension
Battalion Oil Corporation shares jumped Wednesday as traders hunted for gains in smaller U.S. energy names after a U.S.-Iran flare-up brought supply risk back in focus. BATL finished at $2.06, up 57.25%. The stock opened at $1.32 and touched $2.93 at the day’s high. Volume hit 199.66 million. Benzinga said shares tacked on another 16.44% to $2.40 in after-hours trading, but early Thursday numbers on Investing.com showed the rally getting pared back. There wasn't a new earnings release or well result driving the move. Geopolitics took over. Reuters said Thursday the U.S. and Iran traded fire for the second day in a row, with Iran claiming the Strait of Hormuz was completely closed. The U.S. said commercial traffic hadn't stopped. Oil jumped close to $3 after President Donald Trump threatened more action, Reuters reported.