Marathon Petroleum Nears 52-Week High as Crude Jumps 30% on Iran Tensions
Crude oil prices have surged nearly 30% year-to-date, lifting energy sector performance above the S&P 500’s flat return and the Nasdaq’s 3% decline. Marathon Petroleum is trading near its 52-week high alongside refiners Phillips 66 and Valero, benefitting from heightened supply disruption risk through the Strait of Hormuz.
1. Energy Sector Rally
The U.S.-Israel conflict with Iran has propelled crude oil prices up nearly 30% year-to-date, driving the energy sector to outperform the S&P 500’s flat return and the Nasdaq’s 3% decline.
2. Crude Price and Supply Risks
Brent and WTI benchmarks recently climbed above $70 per barrel as escalating tensions increased the risk of supply disruptions around the Strait of Hormuz, the world’s key oil chokepoint.
3. Refining Leaders at 52-Week Highs
Marathon Petroleum joined Phillips 66 and Valero in hitting new 52-week highs, as investors rotate capital into downstream assets and refining margins benefit from stronger price spreads.