Crude oil (WTI) is down by 1.32% to $60.62 per barrel and Brent crude is lower by 1.19% to $64.92 per barrel this afternoon, according to the CNBC.com index.
A stronger dollar pushed the prices of commodities lower today. Oil was also being affected by concerns over a continuing global supply glut, The Wall Street Journal reports.
In its monthly report the International Energy Agency said that global oil supplies will continue to exceed demand this year, The Journal noted.
Denbury Resources is a Plano, TX.-based independent oil and natural gas company. Denbury operates in two areas, the Gulf Coast and Rocky Mountain regions.
Separately, TheStreet Ratings team rates DENBURY RESOURCES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DENBURY RESOURCES INC (DNR) 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 unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."