Trio Petroleum Corp. (NYSE:TPET) shares are surging on Friday amid the continuing Middle East conflict and expectations for a prolonged closure of the Strait of Hormuz shipping chokepoint by Iran.

Also, reports suggest Iran attacked a US-owned tanker near Kuwait.

The oil and gas exploration and development company holds a working interest in the South Salinas Project and a contiguous mineral leasehold. The South Salinas Project includes six existing idle wells and one active well (the HV-1 well).

Middle East War Sends Oil Prices Surging

WTI crude oil futures climbed above $84 per barrel on Friday. That puts crude on track for its biggest weekly gain since 2022, according to Trading Economics data.

The driver: an escalating U.S.–Israel–Iran war now entering its seventh day.

The conflict has nearly halted shipping through the Strait of Hormuz. That chokepoint normally moves about 20 million barrels of oil and petroleum products daily.

Outperforming The Sector

The company is outperforming the broader market and its sector significantly. While the Energy sector sees a modest gain of 44 percent, the S&P 500 is down by 1.0 percent, highlighting a stark contrast in performance.

On Friday, Trio Petroleum’s stock price jumped dramatically, contrasting sharply with the general downturn in major indices like the S&P 500 and Nasdaq, which fell by 1.0 percent and 79 cents respectively.

Technical Analysis

Over the past year, Trio Petroleum has seen a significant increase of 60.37 percent in its stock price. Currently, the stock is trading well above its key moving averages, with a 245.8 percent lead over the 20-day SMA and a 157.3 percent lead over the 100-day SMA. This positions the stock closer to its 52-week high of $2.50 than its low of 35 cents.

The RSI stands at 63.49, indicating a neutral market momentum, while the MACD presents a bullish signal, with the MACD line at 14 cents above the signal line at 1 cent. This suggests that despite the broader market’s downturn, Trio Petroleum maintains a strong technical posture.

Earnings & Analyst Outlook

The countdown is on: Trio Petroleum is set to report earnings on March 17, 2026. With the earnings date fast approaching, here’s what investors should watch:

• EPS Estimate: 35 cents (Up from a loss of 33 cents YoY)
• Revenue Estimate: $1.5 million (Up from 1 cent million YoY)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Trio Petroleum, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Bearish (Score: 0.89) — Stock is underperforming the broader market.

The Verdict: Trio Petroleum’s Benzinga Edge signal reveals a challenging scenario. While the stock is currently performing well, the low momentum score suggests potential underlying weaknesses that investors should monitor closely.

TPET Price Action: Trio Petroleum shares were up 36.48% at $2.17 at the time of publication on Friday, according to Benzinga Pro data.

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