(RTTNews) – Shares of Frontline Ltd. (FRO) are rising on morning trade as the oil price plunged to an 18-year low. On a bullish trend, FRO is trading at $11.30, up 4.21 percent from its previous close of $10.82.
The world’s largest oil tanker shipping company’s stock gapped up at open and currently trading on nearly double the average volume. The shares have been picking up after a slump since March 30.
For the 52-week period, the shares have traded in a range of $6.09 – $13.33 on average volume of 3,405,966.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.