Sky Quarry (SKYQ) shares more than doubled on Thursday morning as Trump’s warning of hitting Iran “extremely hard” within weeks sent oil prices back to nearly $110 a barrel.
Investors are gaining exposure to SKYQ for the strategic importance of its Nevada refinery as well, contributing to the momentum that helped it break above its major moving averages (MAs) today.
At its intraday peak, SKYQ stock was seen trading at a year-to-date high on April 2.
Here’s Why Sky Quarry Stock Soared on Thursday
The Iran war has fundamentally altered the risk profile for global energy supplies in 2026.
With Iranian and Middle Eastern supply constantly under threat, investors are increasingly running to U.S.-based producers and refiners with local facilities fairly insulated from geopolitical risks.
SKYQ stock is rallying this morning because, as an integrated U.S.-focused refiner, it is strongly positioned to benefit directly from this flight to “safe” energy.
The firm’s ability to provide refined products within the U.S. borders provides a crucial buffer against the inflationary pressure and supply chain disruptions triggered in response to soaring oil prices.
Should You Chase the Momentum in SKYQ Shares?
Central to the bull case for Sky Quarry shares is the company’s Foreland refinery in Nevada.
As the only permitted refinery in the state, this facility represents a rare and high-barrier energy asset with a replacement value estimated at $70 million.
Recent operational upgrades have boosted its capacity to 5,000 barrels a day, positioning it to serve critical regional industries like lithium and precious metals mining.
With major California refineries scheduled to go offline this year, the SKYQ facility is perfectly situated to capture outsized margins in a supply-constrained market.
All in all, at 0.77x sales, the penny stock looks undervalued relative to its infrastructure assets.
A Major Red Flag for Sky Quarry
For the risk-averse investor, however, a massive red flag on Utah-headquartered Sky Quarry is the absence of Wall Street coverage.
This means there’s no professional guidance on the company’s financial health, making SKYQ shares prone to misinformation and excess volatility.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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