Crude oil (WTI) is dropping 2.64% to $38.35 per barrel and Brent crude is down 2.53% to $39.25 per barrel this afternoon.
Oil prices are being pressured by investor concerns that a two-month rally is waning as demand fails to keep up with the growing oversupply, Reuters reports.
"I'm already questioning what caused the rally, to be honest," Abishek Deshpande, an oil and gas analyst at Natixis, told CNBC.com, "We are still quite cautiously bearish (despite) that rally that we saw in the last two months which was very much investor-driven and not fundamentals-driven so we're still quite cautious on that fact."
Since mid-February, oil prices have gained more than 30% ahead of a meeting next month of top OPEC and non-OPEC exporters to discuss a production freeze, Reuters noted. However, there are increasing doubts about the outcome of the meeting.
Marathon Petroleum is a Findlay, OH-based company engaged in petroleum product refining, marketing, retail and transportation businesses.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and notable return on equity.
However, as a counter to these strengths, the team also finds weaknesses including poor profit margins, a generally disappointing performance in the stock itself and unimpressive growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MPC