Oil Stock Nears Record High After Price-Target Boost
Marathon Petroleum Corporation shares rose 2% to trade at $403.70, as global oil prices climbed following Saudi Arabia's shutdown of a pipeline that bypasses the Strait of Hormuz over the weekend. The stock is approaching a record high.
Why it matters — Rising oil prices and the recent uptick in Marathon Petroleum's shares are directly relevant to investors tracking the company's performance near its record high.