Oil stocks rise, Battalion Oil (BATL.US) soars over 20%

K-LinePoet · 2026-03-12T14:11:06+00:00

On Thursday, international oil prices surged, with WTI and Brent crude rising more than 8% and 7% respectively. Oil stocks rallied broadly, with Battalion Oil soaring 20%. Iranian leader Khamenei stated that the Strait of Hormuz will remain closed, which the market interpreted as a hardline stance, triggering concerns about disruptions to oil supplies.

K-LinePoet

2026-03-12 14:11:06

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On Thursday, oil stocks rose sharply, with Battalion Oil (BATL.US) soaring over 20%, US Energy (USEG.US) up more than 6%, Murphy Oil (MUR.US) up over 4%, Occidental Petroleum (OXY.US) up more than 3%, and ConocoPhillips (COP.US) nearly 2% higher.

In the news, international oil prices surged, with WTI crude rising over 8% to $94.66; Brent crude increased over 7% to $95.78. Iran’s Supreme Leader Ayatollah Ali Khamenei stated that he will not abandon revenge, and the Strait of Hormuz will remain closed.

Analyst Dara Doyle said that the market interprets the new Supreme Leader Khamenei’s remarks as quite tough, with little sign that Iran is willing to make concessions to the U.S. and Israel. In his first public statement after taking office, he said the Strait of Hormuz should remain closed and threatened to open new fronts in the war. This has heightened concerns about the ongoing disruption of global critical oil choke points.

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