Occidental Petroleum's stock surged 5.02% during intraday trading on Tuesday, marking a significant upward movement for the energy company.

The rally was primarily driven by a sharp increase in oil prices following reports of attacks on vessels near the Strait of Hormuz, which revived fears of disruptions to shipping through this critical energy transit route. This geopolitical tension boosted the broader energy sector, with Occidental among the notable gainers.

Additionally, the company has recently received favorable analyst coverage, including an upgrade to Overweight by Barclays and a rating raise to Neutral by Goldman Sachs, citing capital-efficient free cash flow generation and debt reduction efforts. These positive fundamental factors contributed to the stock's strong performance.