Camber Energy Inc CEI shares are trading sharply higher by 13.70% to $0.43 Tuesday. Shares of energy companies at large are trading higher this week amid a gain in oil prices due to supply concerns after President Biden was unable to secure a commitment from Saudi Arabia for increased output.
Shares of smallcap oil penny stocks have seen marked volatility in recent months due to supply concerns. Energy names have also been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.
The Russia-Ukraine conflict has caused volatility in the broader energy sector and put pressure on some countries to become less dependent on Russian gas.
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According to data from Benzinga Pro, Camber Energy has a 52-week high of $4.85 and a 52-week low of $0.33.
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