Sky Quarry shares surge 64.92% intraday as company negotiates increased crude supply for its sole Foreland refinery and regional demand rises due to high oil prices and reduced California refining capacity.

Sky Quarry surged 64.92% intraday, driven by two key factors: first, on April 2, the company announced it is negotiating with a Nevada crude oil supplier to increase production to secure feedstock for its only operating Foreland refinery; second, on the same day, Brent crude broke above $110 per barrel, while California refinery capacity declined by approximately 290,000 barrels per day, highlighting the regional value of Sky Quarry as Nevada’s sole refinery with a 5,000-barrel-per-day capacity.