Marine Petroleum Trust (NASDAQ:MARPS) is soaring Monday as oil prices continue to surge amid supply disruptions in the wake of Russia’s invasion of Ukraine.
Oil has climbed to the highest levels since 2008. WTI crude traded above $130 Sunday evening while Brent crude, the international benchmark, touched $139 before pulling back slightly.
As geopolitical tensions rise, oil continues to move higher. The U.S. has shown a willingness to act alone in banning Russian oil imports into the country, which has increased oil supply concerns.
Marine Petroleum Trust is a U.S based royalty trust. It provides administration and liquidation of rights to payments from oil and natural gas leases in the Gulf of Mexico.
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MARPS 52-Week Range: $3.75 - $8.68
The Marine Petroleum Trust was up 71.4% at $12.22 at time of publication.
Photo: wasi1370 from Pixabay.
