On July 29, Marathon Petroleum rose 3.14% in pre-market trading, trading at $315.84/share, with turnover of $409,600. The refining sector staged a broad recovery as the market digested the initial bearish impact from the US-Iran weekend ceasefire.

On the news front, after a temporary halt in mutual strikes between the US and Iran over the weekend triggered a single-day plunge of over 8% in Brent crude and a sector-wide selloff on July 27, the market has since reassessed the persistence of supply risks. The 3-2-1 crack spread remains at a record level of $70 per barrel, underpinning expectations for excess refining margins and driving a technical rebound across the sector. PBF Energy rose 3.07%, Valero gained 2.75%, and HF Sinclair added 2.44%.

Marathon Petroleum is scheduled to report Q2 earnings on August 4, with consensus expecting adjusted EPS of $14.52 and revenue growth of approximately 36%. Multiple analysts have recently raised price targets, with TD Cowen lifting its target to $357 from $315 while maintaining a Buy rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)