Crude oil (WTI) is gaining 1.48% to $47.29 per barrel and Brent crude is advancing 1.4% to $48.63 per barrel this afternoon.
Oil prices are rising after a two-day decline brought buyers back, but analysts warned the market will probably continue to be pressured by a U.S. gasoline oversupply and economic worries surrounding Brexit, Reuters reports.
Profit for turning crude oil into gasoline, called "crack," dropped to a February bottom below $13 per barrel as a glut in motor fuel forced U.S. refiners to reduce production.
"The fundamental weakness in gasoline markets is being exemplified by the crack spread, which is closing in on levels which would encourage refiners to dial back on runs," Matt Smith, analyst at cargo tracker Clipperdata, told Reuters.
Marathon Oil is a Houston-based exploration and production company with operations in North America, Europe and Africa.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself, disappointing return on equity and feeble growth in its earnings per share.
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: MRO