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Benzinga
Benzinga
Business
Wayne Duggan

Exxon Mobil, Marathon Oil Stocks Soar; But Is It A Warning Signal For The Economy?

Exxon Marathon

The S&P 500 has struggled so far in 2022, but a combination of energy shortages, booming reopening demand, inflation and geopolitical unrest has oil prices trading at multi-year highs. Oil stocks like Exxon Mobil Corp (NYSE:XOM) and Marathon Oil Corporation (NYSE:MRO) are among the market's best performers year-to-date.

In fact, eight out of the 10 best-performing stocks in the S&P 500 so far in 2022 are oil and gas stocks, including both Exxon and Marathon. WTI crude oil prices are up 26.8% year-to-date and 61.5% overall in the past year.

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