Why Marathon Oil Stocks Rising?

Stocks of several energy and oil companies, including: Marathon Oil Corporation (NYSE: MRO) trading higher in anticipation of tropical storms in the Gulf of Mexico, which have disrupted supplies.

According to The weather channel: Tropical Storm Ida ramps up in the Caribbean Sea and is expected to ravage the northern US Gulf Coast as a major hurricane this weekend with life-threatening storm surge, dangerous rainfall, potentially devastating winds and tornadoes.

Marathon Oil is an independent exploration and production company primarily focused on unconventional resources in the United States. At the end of 2020, Marathon Oil reported net proven reserves of 972 million barrels of oil equivalent.

Marathon Oil is trading higher at 4.5% at $12.04. Marathon Oil has a 52-week high of $14.33 and a 52-week low of $3.73.

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