Shares of energy companies, including Camber Energy Inc (NASDAQ:CEI), are trading lower as oil prices pull back amid Russia-Ukraine talks as well as increasing Chinese COVID cases.
Shares of smallcap energy penny stocks have been volatile in recent sessions on heavy volume. Volatility in the sector has spiked amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns. Oil prices gained last week after the US announced a ban on Russian oil, natural gas and coal imports.
See Also: Why Coupa Software Shares Are Falling Today
Camber Energy is active in the oil and gas market. The company operates exclusively in the onshore United States oil and natural gas industry.
Camber Energy is trading lower by 17.8% at $0.71.
