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Henry Khederian

Here's Why Marathon Oil And Occidental Petroleum Shares Are Rising

Marathon Oil Occidental Petroleum European Union NYSE Marathon Oil Corporation Occidental Petroleum Corporation

Shares of several companies in the energy sector, including Marathon Oil Corporation (NYSE:MRO) and Occidental Petroleum Corporation (NYSE:OXY), are trading higher amid a rise in oil prices as EU nations consider joining the US in a Russian oil embargo and after an attack on Saudi oil facilities over the weekend.

Marathon Oil and Occidental Petroleum shares are trading higher by 46.2% and 92.7% respectively on a year-to-date basis amid continued momentum and an increase in the price of oil. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

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