Marathon Petroleum Says Based On Market Indicators, Crude Oil Throughput, Sees Net Negative Impact Of About $2B On Refining & Marketing Margin For Q1
Portfolio Pulse from Benzinga Newsdesk
Marathon Petroleum anticipates a net negative impact of approximately $2 billion on its refining and marketing margin for Q1, based on current market indicators and crude oil throughput.
April 30, 2024 | 5:20 pm
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Marathon Petroleum forecasts a significant $2 billion negative impact on its Q1 refining and marketing margin, indicating potential earnings pressure.
The anticipated $2 billion negative impact on Marathon Petroleum's refining and marketing margin for Q1 is a direct result of current market indicators and crude oil throughput. This substantial expected loss is likely to pressure the company's earnings for the quarter, potentially leading to a negative short-term reaction in its stock price. The high relevance, importance, and confidence scores reflect the direct mention of Marathon Petroleum and the significant financial impact outlined in the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100