Crude oil (WTI) is lower by 0.32% to $49.17 per barrel this afternoon and Brent crude is down by 0.18% to $49.67 per barrel.
Earlier today, oil prices traded in the green and were poised for their fourth consecutive monthly gain with investors betting on higher U.S. fuel demand as the peak driving season arrives, Reuters reports.
Additionally, data from market intelligence firm Genscape showed a reduction of 686,700 barrels at the Cushing, OK delivery hub last week.
"The bulk of our technical indicators remain tilted in a bullish direction...with upside possibilities to the $52-52.50 areas still valid," Jim Ritterbusch of oil consultancy Ritterbusch & Associates told Reuters.
Oasis Petroleum is a Houston-based exploration and production company.
Separately, TheStreet Ratings Team has a Sell with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity.
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: OAS