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Capital is rotating into oil stocks as investors position for higher energy prices.
Norwegian microcap oil stock IOX, with a market cap of around $6M, is going parabolic as oil prices surge and Iran war tensions escalate.
Production: approximately 1,700–1,800 boe/d
At Brent $85, gross oil value:
1,800 barrels × $85 × 365 days ≈ $56 million/year
A tiny market cap relative to its production exposure makes IOX a high-beta play on a potential oil price spike.