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Marathon Oil Newsroom
Supply Risk Drives Oil Market Upside – TDS
Oil market upside is driven by supply side risk. Meanwhile, the impact to oil supply from hurricane Beryl was less than expected, adding further downward pressure to the market, TDS Senior Commodity Strategist Ryan McKay notes.
Russian crude oil exports hit the biggest weekly drop since the Russia-Ukraine conflict.
According to the Wise Finance and Economics APP, in the 7 days ending on July 7th, Russian crude oil exports have seen the largest drop since the outbreak of the Russia-Ukraine conflict in 2022, with the four-week rolling average dropping to the lowest level since February of this year. Ship tracking data and port agent reports show that a total of 25 oil tankers loaded 18.7 million barrels of Russian crude oil as of the week ending on July 7th. This figure represents a significant decrease from the previous week's 25.66 million barrels. As of the week ending on July 7th, daily marine transportation of crude oil in Russia has decreased by approximately 0.99 million barrels to 2.67 million barrels, the lowest level since the last week of January when there was a storm.
Due to the rise in metal and grain prices, the value of open positions in csi commodity equity index has surged to a six-week high.
The estimated value of open contracts in the global commodity market has surged to a six-week high.
Express News | Marathon Oil is preparing to restart multiple refining units located in Galveston Bay, Texas.
GTJA Securities: Crude oil prices continue to trade in line with seasonal expectations.
Last week, crude oil prices continued to remain strong and broke through previous resistance levels. In terms of demand, according to the EIA report, the demand for refined products improved marginally month-on-month and crude oil inventory reduction was better than expected.
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Beryl Briefly Cuts Power to Galveston Refinery, Parts of Explorer Pipeline Shut
Marathon Petroleum's 665,000 b/d Galveston Bay, Texas, refinery briefly lost power Monday morning and at least one other refinery has cut output as Tropical Storm Beryl brought heavy rains and more th
Express News | Market news: Marathon Oil's Galveston Bay refinery in Texas experienced a power outage during the hurricane period.
Raymond James Adjusts Price Target on Marathon Oil to $42 From $40, Maintains Strong Buy Rating
Marathon Oil (MRO) has an average outperform rating and a price target range of $28 to $45, according to analysts polled by Capital IQ.Price: 28.10, Change: -0.08, Percent Change: -0.28
Express News | Marathon Oil Corp : Raymond James Raises Target Price to $42 From $40
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Crude oil product analysis at noon: Brent crude oil futures prices fell, with limited impact from the storm.
Hurricane Beryl is expected to make landfall in Texas, but the projected path suggests it may not have a significant impact on the oil refining and export industry in the Corpus Christi area. Chevron has begun sending non-essential personnel back to offshore facilities.
The driving force behind oil prices? Tropical storms hit Texas and oil ports are closed.
Tropical storm 'Beryl' advances into Texas, and some of the largest oil export hubs in the United States are closed.
Express News | The water quality of the Seine River has reached the standard of the Paris Olympic Games.
Express News | U.S. Energy Stocks Fall; Chevron Corp, Exxon Mobil Corp, Marathon Oil Corp, Schlumberger Down Between 1.6%-2.3%
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
Midday Crude Oil Analysis: Brent Crude Oil futures prices have fallen, and hurricane intensity has weakened.
Hurricane Beryl has weakened to a Category 2 hurricane with maximum sustained winds of 110 miles per hour. The storm is expected to reach the Yucatan Peninsula in Mexico on July 5th, bringing heavy rain, hurricane force winds, and storm surges.
Facing Non-Farm Payrolls: the first heavy data of trade in the second half of the year!
Why does the Non-Farm Payroll data tonight once again affect the nerves of global financial markets and traders?
Crypto, Retail, and Oil Are Hot for Deals. Check These Stocks. -- Barrons.com
By Adam Clark It has been a mixed year for the mergers-and-acquisitions market so far. Overall volumes are down but certain sectors have been extremely active. That could continue into the second ha
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.