The share price of Empire Petroleum Corporation (NYSE:EP) fell by 9.52% between September 26 and October 3, 2025, putting it among the Energy Stocks that Lost the Most This Week.
Here is Why Empire Petroleum (EP) Fell This Week
Empire Petroleum Corporation (NYSE:EP) is a conventional oil and natural gas producer with a main focus in the US onshore.
Empire Petroleum Corporation (NYSE:EP) surged by almost 20% last month due to an increase in crude oil prices amid the escalating tensions between Russia and Ukraine. However, oil prices have fallen to their 4-month low since then as the accelerated supply hikes from the OPEC+ and a potential US government shutdown continued to weigh down the market.
Moreover, Empire Petroleum Corporation (NYSE:EP) recently issued a $4 million promissory note to investor Phil E. Mulacek, with $2 million already advanced. The note carries a 5.5% annual interest and includes options for conversion into common stock and prepayment without penalty.
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Disclosure: None.