Oil prices continued to rise on Thursday as the US crude stockpiles decreased.
The US dollar decreased against most major currencies on Thursday. Weaker dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies, Xinhua reported.
US crude supplies of last week lost 5.9 million barrels to 484.8 million barrels, 97.6 million barrels more than one year before, according to the US Energy Information Agency (EIA)’s Wednesday weekly report.
US crude production added 3,000 to 9.179 million barrels a day last week, according to EIA’s report.
Data from oil service company Baker Hughes released on Wednesday showed that the number of active oil rigs in the US fell by three to 538 of this week.
The data also helped boost the market as the number of US oil rigs is viewed as a proxy for activity in the oil industry.
The West Texas Intermediate for February delivery moved up 60 cents to settle at $38.1 a barrel on the New York Mercantile Exchange, while Brent crude for February delivery increased 53 cents to close at $37.89 a barrel on the London ICE Futures Exchange.
Oasis Petroleum Inc. (NYSE:OAS) closed at $7.96, down -1.61% from previous close and at a distance of -13.24% from 20-day simple moving average. Over the last 12 months, a return on equity of 6.00 percent was realized due to the financial situation and earnings per share reached a value of $1.40.
Noble Energy, Inc. (NYSE:NBL) share price increased in the last trading session with a previous 52-week high of $52.94. The stock traded at a volume of 1,288,801 shares at a price loss of -0.47 % .The share price is now up 8.41% for the past three months. Latest closing price was -3.25% below its 50-day moving average and -13.05% below its 200-day moving average.
Newfield Exploration Co. (NYSE:NFX) dropped -0.54% at the end of recent close. Its previous 52-week high was $41.34, trading at a volume of 1,032,774. Shares have risen -9.27% over the trailing 6 months. The stock is currently trading -12.37% below its SMA 50 and -7.78% below its SMA 200.