Here's Why Marathon Oil And Occidental Petroleum Shares Are Rising


Shares of several companies in the energy sector, including Marathon Oil Corporation MRO and Occidental Petroleum Corporation OXY, are trading higher amid a rise in oil prices as EU nations consider joining the US in a Russian oil embargo and after an attack on Saudi oil facilities over the weekend.

Marathon Oil and Occidental Petroleum shares are trading higher by 46.2% and 92.7% respectively on a year-to-date basis amid continued momentum and an increase in the price of oil. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

See Also: Why Boeing Shares Are Falling Today

Marathon Oil is an independent exploration and production company primarily focusing on unconventional resources in the United States.

Marathon Oil has a 52-week high of $25.70 and a 52-week low of $9.70.

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America and the Middle East.

Occidental Petroleum has a 52-week high of $62.40 and a 52-week low of $21.62.

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