Stock Alert: Independence Contract Drilling Surges 72%

(RTTNews) - Shares of Independence Contract Drilling, Inc. (ICD) are surging more than 72 percent in Thursday's trading at $2.33, despite no stock-specific news. The shares have traded in a range of $1.08 to $64.40 in the past 52 weeks.

Houston, Texas-based Independence Contract Drilling provides land-based contract drilling services for oil and natural gas producers in the U.S.

Meanwhile, crude oil prices are rallying on Thursday on hopes of a truce in the Saudi Arabia-Russia oil price war.

West Texas Intermediate or WTI crude oil futures are currently spiking $1.50 or 7.39 percent to $21.85 a barrel, after declining $0.17 to $20.31 a barrel the previous day.