Marathon Petroleum shares climbed 8.9% after the company reported exceptionally strong quarterly results, running its refineries near record capacity amid fuel shortages and high refining margins tied to the Iran war and broader crude supply disruptions. The company also lifted its equity buyback authorization to US$55,100 million in May 2026, alongside sizeable quarterly repurchases. Marathon's narrative projects $137.4 billion revenue and $5.9 billion earnings by 2029, implying fairly flat yearly revenue growth and about a $1.3 billion earnings increase from $4.6 billion today. Some analysts assume revenues fall to about US$123.5 billion by 2029 and earnings near US$6.5 billion, while others see midstream growth and sour crude flexibility as potential supports.
Marathon Petroleum CorpNear record refinery utilization amid fuel shortages and high refining margins due to Iran war and crude supply disruptions.
