NEW YORK (TheStreet) -- Shares of Oasis Petroleum Inc. (OAS) are down by 4.86% to $14.28 in late morning trading on Friday, as energy stocks retreat today due to oil prices hitting a new five year low, MarketWatch reports.
Brent Crude was down 1.59% to $68.53 per barrel on Friday morning.
Oil is experiencing its worst session since the middle of 2009, MarketWatch added, due in part to the rally in the U.S. dollar, as a stronger dollar will hurt commodities that trade in dollars, making them more expensive for those that hold other currencies.
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Oil fell on Thursday after Saudi Arabia cut the price of its oil in the U.S., which added to concerns the country is more focused on keeping market share than raising prices, the Wall Street Journal reported.
Other energy stocks falling today include Emerald Oil Inc. (EOX) , down by 7.10% to $1.57, Northern Oil & Gas Inc. (NOG) , lower by 7.53% to $6.14, and Kodiak Oil & Gas Corp. (KOG) , declining by 2.73% to $6.76 this morning.
Separately, TheStreet Ratings team rates OASIS PETROLEUM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: