Shares of Marathon Oil Corporation (MRO) are up more than 7% Thursday morning after the company announced a gross debt reduction of $500 million.
The company said it has sent an irrevocable notice of its intention to fully redeem its currently outstanding $500 million aggregate principal amount of 2.8% Senior Notes Due 2022, which will reduce gross debt by $500 million and annual cash interest expense by $14 million.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.