U.S. crude oil inventories rose by 2.5 million barrels in the week ended August 19, bringing the total amount of crude inventories to 523.6 million barrels, according to the Energy Information Administration.
Analysts were anticipating a 455,000-barrel decline, Reuters reports.
"I cannot continue to stress that at this time of year we are supposed to be getting draws," Tariq Zahir, oil trader at Tyche Capital Advisors, told Reuters. "But instead, we're seeing a build in every single aspect that's quite eye opening."
Crude oil (WTI) was down 2.68% to $46.81 per barrel while Brent crude was falling 1.80% to $49.06 per barrel this afternoon.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D-.
Denbury Resources's weaknesses include its generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: DNR
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 article's author.