Oil prices were jumping on optimism that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers may be close to a deal to combat the oversupplied market, Reuters reports.
Crude oil (WTI) is rallying by 3.13% to $31.29 per barrel and Brent crude is spiking by 3.54% to $31.69 per barrel, according to the CNBC.com index.
However, persisting worries about the slowing demand of oil put a lid on further rallies, Reuters added.
Additionally, Iraq may further increase production this year, adding more oil to the already saturated market.
Separately, TheStreet Ratings currently has a Buy rating on the stock with a letter grade of B-.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, notable return on equity, expanding profit margins, good cash flow from operations and compelling growth in 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: AAL