Sunoco LP Stock Races Higher: What's Going On?

Sunoco LP SUN shares are racing higher and marked a new 52-week high price on Thursday.

What To Know:

Sunoco LP shares reached a 52-week high of $51.85 as the price of crude oil continues its recent rally.

The price of crude oil climbed over $95 per barrel on Wednesday for the first time in over a year and is currently trading above $92 per barrel.

Sunoco shares are moving higher on heavy trading volume, and SUN is listed as one of the top trending tickers on Yahoo! Finance. 

According to data from Benzinga Pro, more than one million shares have been traded in the session, compared to the stock's 100-day average of just over 154 thousand shares.

Related News: What's Going On With Palantir Technologies Stock? 

SUN Price Action: According to Benzinga Pro, Sunoco LP shares are up 8.5% at $51.32 at the time of publication.

Image: Rudy and Peter Skitterians from Pixabay