Camber Energy (CEI) Stock Climbs On Geopolitical News

Camber Energy CEI Stock News

Camber Energy Inc (NYSEAMERICAN: CEI) is running for the top in the market this morning, trading on gains of more than 20% early on. While the company hasn’t issued any news of its own, an attack in Saudi Arabia is leading oil stocks to the top. Here’s what’s happening:

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Drone Attack On Saudi Arabia Sends Oil Up

As mentioned above, Camber Energy is flying in the market this morning with no press releases or SEC filings issued. The gains come after the largest oil facility in Saudi Arabia was the center of a drone attack over the weekend.

Yemen rebels have claimed responsibility for the attack that will take 5 million barrels of oil out of the global supply of the commodity. That works out to be about 5% of the global daily output of oil.

As you could imagine, this has sent the value of oil skyrocketing. That’s where CEI comes in.

The company is focused on the production of oil and natural gas. So, when the values of these commodities rise, the company benefits from the ability to sell its core products for a higher price.

While Yemen rebels have claimed responsibility for the attack, the United States government is saying that the likely culprit was either Iran or Iraq.

It’s likely that geopolitical tensions are amplifying the growth in oil. President Trump said that the United States is “locked and loaded depending on verification.” This means that once the attackers are verified, Trump plans to take military action.

So, not only do we have oil climbing from the fact that the Saudi Arabian facility was attacked, these gains are being boosted by the idea that the attack may result in military action, escalating the United States’ actions in the middle east.

All of this ultimately boils down to further possible gains for CEI and others in the oil and gas industry.

What We’ll Be Watching For Ahead

Moving forward, the Alpha Stock News team will continue to keep a close eye on the geopolitical side of the story. It is possible that should this story continue to grow into a real concern, the value of oil will continue to fly, ultimately creating opportunities for CEI and others in oil.

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