TPET Surges 229% in Two Days Amid Rising Oil Prices
Trio Petroleum Corp's shares have been on a tear in recent days, surging 169% on Monday and another 60% pre-market on Tuesday. The company's stock is tracking the broader energy market, which has risen due to the ongoing conflict in the Middle East.
The U.S. West Texas Intermediate (WTI) crude futures for May deliveries were up over 5% at $74.5 per barrel, while Brent Crude contracts jumped over 6% to $82.64 per barrel. Trio Petroleum's shares are on track for their highest open since June 23, 2025.
The company has been expanding its operations in Canada, with all required Alberta Energy Regulator approvals and license transfers completed as of January 30, 2026. Two initial wells are expected to produce a combined 30 to 40 barrels of oil per day.