Why Indonesia Energy Shares Are Rising

Shares of small-cap penny stock Indonesia Energy Corp Ltd INDO are trading higher by 31.96% at $18.21. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns. 

Several energy companies at large are also trading higher in sympathy with the increase in oil prices.

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Indonesia Energy is an oil and gas exploration and production company focused on Indonesia. Its portfolio consists of Kruh Block and Citarum Block. The company generates its revenue from oil and gas sales.

According to data from Benzinga Pro, Indonesia Energy has a 52-week high of $86.99 and a 52-week low of $2.61.