Trio Petroleum Stock Surges on Oil Rally Amid Geopolitical Tensions

Trio Petroleum's stock rose 12.71% to $2.04 on Thursday as Brent crude prices climbed past $101 per barrel, driven by geopolitical tensions in the Middle East.

The energy services firm reported a significant narrowing of its quarterly loss, with earnings per share improving to $(0.39) from $(1.57) in the same period last year, representing a 75.16% reduction in losses year-over-year.

Trio's revenue increased by 81.18% to $348.581 thousand in the current quarter, while its cash and equivalents reached $24.3 million with working capital of $23.5 million as of July 31.