Stock Track | Oiltek Soars 3.97% Intraday as US-Iran War Resumption Sparks Oil Price Spike

Stock Track

Jul 10

Shares of Oiltek (HQU.SI) surged 3.97% during intraday trading on Friday, extending gains from the previous session.

The sharp rise is attributed to the resumption of conflict between the US and Iran, which has led to the effective closure of the Strait of Hormuz—a critical chokepoint for approximately 20% of the world's oil flow. Markets are bracing for a sustained spike in oil and gas prices as a result of the renewed geopolitical tensions.

As an oil-related company, Oiltek's shares are experiencing heightened volatility and upward momentum in direct response to the surge in underlying commodity prices caused by the supply disruption.

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