Why Marathon Oil (MRO) Shares Are Trading Higher

Marathon Oil Corp MRO shares are trading higher by 7.24% to $26.37 going into the close of Monday's session. Shares of energy stocks are trading higher as the Israel-Hamas conflict drives oil supply uncertainty.

Investors are watching events closely as rocket attacks by Hamas, the Palestinian militant organization in control of the Gaza Strip, have resulted in casualties exceeding 1,100 people, including 700 Israelis, with over 2,000 injuries and numerous individuals held captive in Gaza.

Israel’s military also called in 300,000 reserve forces Monday in order to facilitate a siege on the Gaza Strip and halt the transport of supplies, including food and fuel.

See Also: What Israel's War With Hamas Means For Gold And Other Safe Haven Assets

Marathon Oil is an energy company primarily involved in the exploration, production and marketing of oil and natural gas. Its financial performance is highly sensitive to changes in oil prices. Geopolitical conflicts in oil-rich regions like the Middle East can lead to concerns about oil supply disruptions, which in turn can drive up oil prices.

As a result, Marathon Oil's stock price may rise because higher oil prices can potentially lead to increased revenues and profits for the company.

The Israel-Hamas conflict has created uncertainty in the global oil supply chain. If the situation escalates and disrupts oil transportation routes in the region, it could impact the availability of oil on the global market.

This supply uncertainty can drive up oil prices, benefiting oil companies like Marathon Oil.

See Also: Goldman Sachs Bullish On Crude Oil With Israel, Hamas At War

According to data from Benzinga Pro, MRO has a 52-week high of $33.42 and a 52-week low of $20.57.