The Shares of Marathon Oil Corp. advanced 6.43% to $11.75 Wednesday. This proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 0.08% to 4,183.18 and Dow Jones Industrial Average DJIA falling 0.48% to 33,820.38. This was the stock’s fourth consecutive day of gains. Trading volume (22.0 M) remained 3.2 million below its 50-day average volume of 25.2 M.
Marathon Oil Corp. closed $1.54 short of its 52-week high ($13.29), which the company reached on March 5th. Occidental Petroleum Corp. closed $6.42 short of its 52-week high ($32.52), which the company reached on March 5th.
Both the stock outperformed some of its competitors Wednesday, as Exxon Mobil Corp. XOM rose 3.01% to $58.11, Chevron Corp. CVX rose 2.45% to $105.22, and Royal Dutch Shell PLC ADR Cl A RDS. A rose 1.45% to $39.08. Brent oil futures gained 0.36% to $67.32 by 11:37 PM ET (3:37 AM GMT) and WTI futures were up 0.31% to $64.06.Forecasts prepared by Investing.com predicted a 659,000-barrel build, while a 594,000-barrel build was recorded during the previous week.
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