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NEW YORK (TheStreet) -- Shares of Encana (ECA) - Get Encana Corporation Report were advancing in late-afternoon trading on Wednesday following data that showed crude stockpiles declined for a fifth straight week. 

Crude oil (WTI) was recently up 2.14% to $49.73 per barrel and Brent crude was rising 1.79% to $51.78 per barrel. 

U.S. crude stockpiles dropped by 3 million barrels in the week ended September 30, according to the Energy Information Administration. Analysts were anticipating an increase of 2.6 million barrels, according to Reuters.

Total supplies have declined by 26 million barrels since the beginning of September, Reuters notes.

Oil prices could climb above $50 a barrel, Jim Ritterbusch, president of Ritterbush & Associates, wrote earlier today in a note cited by the Wall Street Journal.

"While acknowledging that the unexpected crude supply draw barely placed a dent in a massive supply surplus, we are also acknowledging the power of momentum that accelerated off of last week's OPEC headlines," he said.

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Encana is a Canadian natural gas, oil and natural gas liquids producer. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Encana's weaknesses include its generally high debt management risk, disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: ECA

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. 

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