Shares of independent energy company US Energy Corp (NASDAQ:USEG) are trading higher Tuesday morning amid a rise in oil and energy prices in the wake of Russia's invasion of Ukraine.
The United States and its European allies have been discussing banning Russian oil imports. On Monday, the U.S. signaled a willingness to stand alone in banning imports, which added to the move in oil prices.
Oil climbed to 13-year highs this week. WTI crude continues to trade higher Tuesday, nearing $125 at publication time, while Brent crude, the international benchmark, is hovering close to $130.
US Energy is an independent energy company focused on the acquisition and development of oil and natural gas-producing properties in the continental U.S.
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USEG 52-Week Range: $2.91 - $7.91
US Energy shares were up 37.2% at $8.66 at time of publication.
Photo: jp26jp from Pixabay.
