Shares of Indonesia Energy Corp Ltd INDO are trading sharply higher Friday afternoon as escalating geopolitical tensions in the Middle East propel crude oil prices to multi-year highs.
Thursday’s Israeli strikes on Iran have ignited fears of a wider regional conflict, threatening to disrupt global oil supplies and creating a bullish environment for energy producers.
What To Know: West Texas Intermediate crude futures saw a dramatic spike early Friday, briefly touching $77.50 a barrel before settling. This surge marks oil’s most substantial weekly gain since October 2022, with analysts from ING suggesting prices could soar to $120 per barrel if…
