Why Houston American Energy Shares Are Rising

Shares of small-cap penny stock Houston American Energy Corporation HUSA are trading higher by 16.3% at $5.10. The stock has also been trending amid retail investors on social media. Shares of energy and oil companies at large are also trading higher amid a gain in oil after Saudi Arabia suggested OPEC+ could make output cuts to support prices.

Energy names, including Houston American Energy, have also seen marked volatility in 2022 amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

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Houston American Energy is an independent oil and gas company focused on the development, exploration, exploitation, acquisition and production of natural gas and crude oil properties.

According to data from Benzinga Pro, Houston American Energy has a 52-week high of $16.61 and a 52-week low of $1.07.