Shares of INDO hit an intraday high of $86.99 on March 7, 2022, shortly after Russia invaded Ukraine, and sent oil prices soaring.
- Over the weekend, U.S. President Donald Trump launched coordinated strikes with Israel on Iran, stoking conflict in the Middle East.
- U.S. West Texas Intermediate (WTI) crude futures maturing in April 2026 jumped on Thursday, crossing the $80-per-barrel mark for the first time since 2024.
- Retail chatter around Indonesia Energy stock surged a whopping 1,276.6% in the past week, entering the ‘extremely high’ territory.
Indonesia Energy Corp., a Jakarta-based oil and gas company, has been on retailers’ radar since the start of the conflict among the U.S., Israel, and Iran, which sent oil prices higher this week.
Retail chatter around Indonesia Energy (INDO) stock surged a whopping 1,276.6% in the past week, entering the ‘extremely high’ territory.
Meanwhile, sentiment around INDO stock has been in the ‘extremely bullish’ territory over the past 24 hours.
On Thursday, at the time of writing, shares of INDO surged more than 15%.
What Are Stocktwits Users Saying?
Many retail users on Stocktwits compared the company’s surging prices to its rally in 2022, when INDO shares rallied to double-digits. Shares of INDO hit an intraday high of $86.99 on March 7, 2022, shortly after Russia invaded Ukraine, and sent oil prices soaring.
One user noted the 2022 highs when the company’s shares ‘went for a wild ride.’
Another user said, comparing the movement to 2022, that if the shares rose over $6 in the day, it could potentially go ‘parabolic’ on Monday.
A third user also indicated that INDO shares were moving on geopolitical play.
Geopolitics And Oil
Over the weekend, U.S. President Donald Trump launched coordinated strikes with Israel on Iran, stoking conflict in the Middle East. This led to a closure of the Strait of Hormuz, one of the most important shipping routes in the world.
As a result of the ongoing tensions, crude oil prices have been soaring. U.S. West Texas Intermediate (WTI) crude futures maturing in April 2026 jumped on Thursday, crossing the $80-per-barrel mark for the first time since 2024. Meanwhile, ICE Brent crude futures maturing in May 2026 surged more than 5% to $85.68 per barrel.
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