Oil for January delivery was down 1.15% to $68.04 per barrel on the NYMEX in early afternoon trading today.
Oil prices declined Friday as the dollar strengthened, MarketWatch reports. A stronger dollar can hurt commodities that trade in dollars, making them more expensive for those that hold other currencies.
Must Read: Warren Buffett's 25 Favorite Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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.
Separately, TheStreet Ratings team rates TALISMAN ENERGY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TALISMAN ENERGY INC (TLM) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."