Oil prices are rising as a weaker dollar makes fuel cheaper for holders of other currencies, according to Reuters.
Hopes of a last-minute breakthrough that could keep Greece in the euro zone also contribute to the higher oil prices.
Brent crude for August delivery was up 0.19% to $63.99 a barrel as of 11:52 a.m. ET today, while U.S. crude for July delivery was rising by 0.28% to $60.09 a barrel.
Brazil-based Petrobras is an integrated oil and gas company, engaged in the research, extraction, refining, processing, trade and transport of oil from wells, shale and other rocks.
Separately, TheStreet Ratings team rates PETROLEO BRASILEIRO SA- PETR as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PETROLEO BRASILEIRO SA- PETR (PBR) a SELL. This is driven by a number of negative factors, 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, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: