What Happened?
A number of stocks jumped in the afternoon session after the energy sector rallied as escalating geopolitical tensions in the Middle East stoked fears of a wider conflict and potential supply disruptions.
Oil prices continued their ascent even as President Trump extended a deadline for Iran to reopen the Strait of Hormuz by ten days, a critical chokepoint for global oil trade. The President had previously threatened military action if the vital shipping lane remained closed. While Trump suggested talks were progressing, Iranian officials reportedly maintained they are not negotiating. The ongoing uncertainty and risk to the global oil supply pushed crude prices higher, boosting the outlook for oil and gas producers despite the broader stock market falling on the news.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Oilfield Services company Core Laboratories (NYSE:CLB) jumped 6.4%. Is now the time to buy Core Laboratories? Access our full analysis report here, it’s free.
- Mixed or Offshore Upstream E&P company Gevo (NASDAQ:GEVO) jumped 3.2%. Is now the time to buy Gevo? Access our full analysis report here, it’s free.
Zooming In On Core Laboratories (CLB)
Core Laboratories’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Core Laboratories is up 2.5% since the beginning of the year, but at $17.38 per share, it is still trading 11.6% below its 52-week high of $19.67 from January 2026. Despite the year-to-date gain, investors who bought $1,000 worth of Core Laboratories’s shares 5 years ago would now be looking at only $600.55.
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