RTTNews | Oct 5, 2021 09:52AM EDT

09:52 Tuesday, October 5, 2021 (RTTNews.com) - Shares of nano-cap company Marine Petroleum Trust (MARPS) are surging over 65% on Tuesday morning despite no stock-related statement from the company to drive the shares. The stock might have been driven by increase in oil prices. Brent crude oil futures hovered near three-year highs on Tuesday, while U.S. benchmark crude held close to 2014 peaks. This surge was driven by OPEC and other major producers' decision to not to increase their output.

MARPS is currently trading at $8.50, up $3.40 or 66.67%, on the Nasdaq, on a volume of 15.8 million shares, above average volume of 55 thousand shares. The stock has traded between $1.61 and $8.98 in the 52-week period.

Marine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the US. As of June 30, 2021, the company had an overriding royalty interest in 55 oil and natural gas leases covering about 199,868 gross acres located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas.

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