Crude oil (WTI) is advancing by 1.03% to $33.41 per barrel this morning and Brent crude is up by 2.24% to $36.08 per barrel, according to the CNBC.com index.
The price of the commodity is getting a boost from strong U.S. gasoline demand and supply disruptions, which overshadowed concerns about the ongoing oversupply, Reuters reports.
"The idea that gasoline demand is actually rising suggests that perhaps the lower prices of crude are actually prompting a greater usage of this product (gasoline)," Vyanne Lai, oil analyst at National Australia Bank, told Reuters.
Analysts project that oil prices will increase again in the longer term.
Jefferies said current prices were unsustainable, adding that output declines across most of the top non-OPEC exporters are likely to set the stage for an oil price recovery in the second half of the year, Reuters noted.
Denbury Resources is a Plano, TX-based oil and natural gas company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.
This is driven by a number of negative factors, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DNR