Crude oil (WTI) is declining 0.84% to $32.01 per barrel and Brent crude is sliding 1.28% to $34.65 per barrel.
This morning the dollar weakened on waning expectations of U.S. interest rate hikes this year earlier helping boost oil prices along with other commodities.
However, futures couldn't hold earlier gains. Also weighing on Marathon Petroleum was its fourth quarter earnings, reported yesterday before the market opened.
Earnings of 79 cents a share beat estimates of 67 cents a share but revenue of $15.68 million fell short of the expected $16.54 million (free access during TheStreet's Open House).
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, notable return on equity and attractive valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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: MPCMPC data by YCharts