Crude oil (WTI) is gaining by 2.51% to $60.46 per barrel and Brent crude is climbing by 1.91% to $66.27 per barrel this afternoon, according to the CNBC.com index.
Oil prices are in the green today following Wednesday's data from the Energy Information Administration showing a decline in U.S. oil storage levels. Last week, U.S. stock piled fell by 2.7 million barrels, The Wall Street Journal reports.
U.S. oil output also declined to its lowest level since the beginning of February, 9.3 million barrels per day.
Other oil stocks gaining today include Marathon Oil (MRO), higher by 2.13% to $28.05, Anadarko Petroleum (APC), up by 1.92% to $85, and Chesapeake Energy (CHK), rising by 2.78% to $15.16 this afternoon.
Separately, TheStreet Ratings team rates WHITING PETROLEUM CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WHITING PETROLEUM CORP (WLL) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."