NEW YORK (TheStreet) -- Whiting Petroleum (WLL) - Get Report stock is gaining by 6.16% to $12.76 in late morning trading on Tuesday, after oil prices increased despite rising output in the Middle East.
WTI crude is up by 1.07% to $49.86 per barrel on the New York Mercantile Exchange, while Brent crude is increasing by 0.26% to $49.89 per barrel this morning.
Domestic crude is rising more than the international benchmark due to the start of the summer driving season in the U.S., Reuters reports.
Brent crude is being pressured as Iraq plans to produce 5 million additional barrels of crude in June to boost its market share, sources told Reuters.
Denver-based Whiting Petroleum is an oil and gas company exploration and production company operating in the Rocky Mountains and Permian Basin regions.
Separately, Whiting Petroleum has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's generally high debt management risk, disappointing return on equity, weak operating cash flow, disappointing stock performance and feeble earnings per share growth.
You can view the full analysis from the report here: WLL
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.