Crude oil (WTI) is slipping by 0.3% to $49.33 per barrel and Brent crude is falling by 0.69% to $49.25 per barrel, CNBC reports.
After hitting a $50 per barrel milestone on Thursday, oil prices are retreating today as the dollar strengthens, making the commodity more expensive to foreign shareholders, and as analysts become concerned that the supply glut is not really over, the Wall Street Journal reports.
Earlier in the week, oil prices rallied primarily due to reports that the U.S. supply glut had ended and as disruptions from power outages in Nigeria and Venezuela and wildfires in Canada hindered production.
Vancouver-based Teck explores for, acquires, develops and produces natural resources.
Separately, TheStreet Ratings rated Teck Resources as a "sell" with a score of D.
This is driven by several weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: TCK
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.