Battalion Oil Corp. ( BATL ) surged 15.79% in after-hours trading on Tuesday, jumping to $22.

BATL closed the regular session up 2.32% at $19, according to Benzinga Pro data.

Middle East Tensions Send Oil Stocks Soaring

The stock moved following a broad rally in the oil and gas sector after coordinated U.S. and Israeli strikes against Iran over the weekend.

Tehran's closure of the Strait of Hormuz, a key chokepoint for global crude and LNG shipments, pushed benchmark oil futures higher and lifted sentiment for upstream producers.

Capital Raise Strengthens Balance Sheet

On Tuesday, Battalion announced a private placement to raise approximately $15 million, priced at $5.50 per share, with Roth Capital Partners serving as the sole placement agent.

The company stated that the net proceeds of roughly $14.1 million are intended for working capital and general corporate purposes.

Trading Metrics, Technical Analysis

Battalion Oil ( BATL ), a Houston-based independent energy company, has a market capitalization of $312.67 million, with a 52-week high of $29.70 and a 52-week low of $1.

The Relative Strength Index (RSI) of BATL stands at 69.85.

Over the past 12 months, the stock has experienced a gain of 1,219.44%.

BATL is currently trading at about 62.7% of its 52-week range, above the midpoint.

With a strong Momentum in the 99th percentile, Benzinga's Edge Stock Rankings indicate that BATL has a positive price trend across all time frames.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.