Shares of Sky Quarry Inc. (NASDAQ:SKYQ) are surging Thursday afternoon as energy micro-caps catch strong buying interest driven by a rally in benchmark crude oil.
Sky Quarry stock is charging ahead with explosive momentum. Why are SKYQ shares rallying?
Crude Rallies on Saudi Production Drop and Middle East Shipping Threats
Shares of oil and gas-related companies are trading higher as crude prices climb higher above $100 per barrel after an OPEC report indicated that Saudi Arabia’s August oil production fell to the lowest level since 1990.
Also, Houthi rebel advances in Yemen may also be viewed as a risk to marine energy transport in the Red Sea.
