Crude oil (WTI) was up 3.78% to $47.22 per barrel while Brent crude was climbing 3.61% to $49.71 per barrel this morning.
Oil prices were higher today as concerns over a global oversupply eased. The American Petroleum Institute reported late yesterday that U.S. crude stocks dropped by about 12.1 million barrels last week.
Analysts had been looking for a growth of 200,000 barrels for the period, Reuters reports.
The U.S. Department of Energy will post its own data on U.S. crude inventories later today.
If it corroborates the report from yesterday, it will be the biggest drop in inventories since 1985, according to Reuters.
Additionally, Tropical Storm Hermine negatively impacted crude production in the impacted region this past week, Reuters reports.
Southwestern Energy is a Spring, TX-based independent oil and energy company.
Separately, 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.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
You can view the full analysis from the report here: SWN