Why Imperial Petroleum Shares Are Rising

Shares of small-cap penny stock Imperial Petroleum Inc IMPP are trading higher by 16.82% at $0.78. 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.

See Also: Why Spirit Airlines Shares Are Taking Off Today

Imperial Petroleum is a provider of international seaborne transportation services to oil producers, refineries and commodities traders.

According to data from Benzinga Pro, Imperial Petroleum has a 52-week high of $9.70 and a 52-week low of $0.40.