BP Prudhoe Bay Royalty Trust (NYSE: BPT) stock jumped to a high of $10.50 on Tuesday, up 11.2% over its closing price on Friday. The stock closed on Friday at $9.45, opened on Tuesday at $9.99, and jumped to $10.50 in the first hour of trading on Tuesday. The stock has been up more than 142% over the past year and has a 52-week low of $2.92 and a 52-week high of $10.59.
The Russia-Ukraine conflict gave a bump to all commodity stocks, especially oil, with Brent crude oil hitting $99 a barrel, its highest price since 2014. BP Prudhoe Bay Royalty Trust gets its income from drilling activity in Alaska's Prudhoe Bay by British Petroleum (NYSE: BP) . The possibility of sanctions against Russia makes oil elsewhere that much more valuable.
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Why Shares of BP Prudhoe Bay Royalty Trust Climbed 11.2% on Tuesday