Delixy Holdings Ltd. (NASDAQ: DLXY) shares are trending on Tuesday night.
The stock of the Singapore-based financial investment holding business, which focuses on the wholesale trading of petroleum and oil-based items, rose 158.03% in after-hours trading on Tuesday to $2.12.
DLXY extended session gains follow an intraday drop of 17.47%.
Hormuz Closure Tightens Up Supply Outlook
The stock motion follows joint U.S.– Israeli strikes versus Iran over the weekend triggered Tehran to approach closing down the Strait of Hormuz, a crucial path for worldwide crude.
DLXY’s sharp relocation in the late trading session shows financier expectations that an extended Strait of Hormuz disturbance would tighten up worldwide supply.
Other Energy Stocks Move
Trading Metrics, Technical Analysis
Delixy Holdings, through its subsidiary Delixy Energy Pte. Ltd., trades fuel oils, motor fuel, base oils and naphtha throughout Southeast Asia, East Asia and the Middle East and has a market capitalization of $13.65 million, with a 52-week high of $7.16 and a 52-week low of $0.61.
The Relative Strength Index (RSI) of DLXY stands at 43.25.
Over the previous 12 months, the stock has actually fallen 83.4%.
Rate Action: On Tuesday, Delixy Holdings closed the routine session at $0.82, according to Benzinga Pro information.
Presently, DLXY is trading at about 3.2% of its 52-week variety, extremely near to its annual low.
Benzinga’s Edge Stock Rankings suggest that DLXY is experiencing long-lasting debt consolidation in addition to medium and short-term upward motion.
Image: Champ008/ Shutterstock
Disclaimer: This material was partly produced with the assistance of AI tools and was examined and released by Benzinga editors.
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