Crude oil (WTI) is increasing by 1.15% to $50.26 per barrel this afternoon and Brent crude is gaining by 1.62% to $51.37 per barrel.
Oil prices are advancing today on a weaker dollar and continuing supply disruptions, the Wall Street Journal reports.
Commodities dominated in dollars, such as oil are more expensive to foreign currency holders when the greenback is strong.
Unplanned outages in Nigeria and Canada have helped lower the global crude glut.
"Lost supply in Nigeria is likely to fluctuate, but the political and social nature of the problem calls for continued outages," Bjarne Schieldrop, analyst at SEB Markets, wrote in a note cited by the Journal, "For now we expect the oil price to continue higher."
WPX Energy is a Tulsa, OK-based oil and natural gas exploration and production company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WPX