Crude oil (WTI) was falling 2.25% to $43.89 per barrel and Brent crude was sliding 2.04% to $46.14 per barrel this afternoon.
Oil prices were slumping as data showed a bigger-than-anticipated weekly increase in U.S. petroleum products, which offset an unexpected decrease in crude stockpiles, Reuters reports.
Inventories of distillates in the U.S., including diesel and heating oil, climbed by 4.6 million barrels last week, according to the Energy Information Administration (EIA). Analysts were projecting a build of 1.5 million barrels.
It was the largest weekly rise since January and put distillates at six-year seasonal highs, Reuters noted.
Additionally, gasoline stocks rose by 567,000 barrels, higher than analysts' estimates for a gain of 343,000.
But the EIA said crude inventories dropped 559,000 barrels last week, while analysts had been expecting an increase of 3.8 million barrels.
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.
The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.
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