Crude oil (WTI) was rising 1.84% to $44.29 per barrel and Brent crude was advancing 1.48% to $46.72 per barrel this afternoon.
Oil prices received a lift from a declining U.S. dollar today. Commodities priced in dollars, such as oil, are less expensive to foreign investors when the greenback is weaker.
The dollar retreated today after July retail data showed that sales were flat, while analysts were expecting an increase of 0.4%.
"Despite the recent bounce in prices, we continue to believe that the oil market remains in oversold territory," RBC Capital Markets said in a recent note cited by Reuters.
"As such, the price path forward will likely remain choppy and non-linear since price moves can and will often be exacerbated in either direction," the firm added.
Data on U.S. rig counts will be released later today.
Resolute Energy is a Denver-based independent oil and gas company.
About 3.22 million of the company's shares were traded so far today vs. its average volume of 2.03 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of E+ on the stock.
This is based on several weak investment measures, which should drive this stock to significantly underperform the majority of stocks that are rated by the team.
Among the areas the team feels are negative, one of the most important has been weak operating cash flow.
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: REN