California Resources (CRC) Stock Falling on Declining Oil Prices

NEW YORK (TheStreet) -- Shares of California Resources (CRC) are falling by 0.27% to $7.42 as crude oil prices were declining.

This comes after the U.S. data on oil and fuel inventories fell short of expectations, according to The Wall Street Journal.

The U.S. Energy Information Administration's weekly report said that U.S. crude inventories fell by 2.7 million barrels and gasoline stocks grew by 460,000 barrels in the week ending June 12, 2015. Analysts surveyed by Reuters expected crude inventories to fall by 1.7 million barrels and gasoline stocks to fall by 314,000 barrels.

Crude oil (WTI) is falling by 0.1% to $59.91 per barrel Wednesday afternoon and Brent crude is gaining by 0.07% to $63.77, according to the CNBC.com index.

CRC Chart CRC data by YCharts CRC data by YCharts

More from Markets

Why Jim Cramer Isn't Surprised By the Jobs Report

Why Jim Cramer Isn't Surprised By the Jobs Report

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

Illinois Tool Works Stock Falls Despite In-Line Earnings Guidance

Illinois Tool Works Stock Falls Despite In-Line Earnings Guidance

Dow Falls For Third Day, Loses 4.4% in Week on Jobs Report, Trade Fears

Dow Falls For Third Day, Loses 4.4% in Week on Jobs Report, Trade Fears

Rates Are 'About Right,' Says Federal Reserve's Bullard

Rates Are 'About Right,' Says Federal Reserve's Bullard