EON Resources shares surge 19.80% intraday as oil war premium retreats and hedging expands to 75% of expected production.

EON Resources surged 19.80% intraday, driven by a potential U.S. withdrawal from the Iran conflict lowering oil's "war premium," with the stock up 116% for the quarter. On June 16, the company announced an expansion of its 2026-2027 crude hedging coverage to approximately 75% of expected production, with some hedge prices above $70/barrel, securing revenue for its horizontal drilling expansion. EON Resources is an independent upstream company focused on onshore oil and gas development in the U.S., primarily engaged in oil and gas production.