California Resources (CRC) Stock Closes Lower on Slumping Oil Prices

NEW YORK (TheStreet) -- Shares of California Resources (CRC) closed down by 0.64% to $7.78 on Thursday on falling oil prices, due to the stronger dollar. 

Brent crude is falling by 1.07% to $65 per barrel and crude oil (WTI) is dropping 1.25% to $60.66 per barrel this afternoon, according to the CNBC.com index. 

Oil prices were falling today as the U.S. dollar rallied against the euro due to concerns about the Greek debt, Reuters reports. 

Additionally, the World Bank lowered its global economic growth forecast, and expects the economy to expand 2.8% this year, down from 3% it previously predicted in January, according to Reuters

California Resources is a Los Angeles-based independent oil and natural gas exploration and production company.

CRC Chart CRC data by YCharts

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