RTTNews | Oct 5, 2021 10:47AM EDT

10:47 Tuesday, October 5, 2021 (RTTNews.com) - Shares of nano-cap company KLX Energy Services Holdings, Inc. (KLXE) are gaining over 6% on Tuesday morning despite no stock-related news to drive the shares.

KLXE is currently trading at $4.87, up $0.29 or 6.3319%, on the Nasdaq. The stock has traded between $3.73 and $18.97 in the 52 week period.

KLX Energy Services Holdings provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States.

The stock might have been driven by increase in oil prices. Brent crude oil futures hovered near three-year highs on Tuesday, while U.S. benchmark crude held close to 2014 peaks. This surge was driven by OPEC and other major producers' decision to not to increase their output.

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