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BP Stock Advances With Increasing Oil Prices

NEW YORK (TheStreet) -- BP (BP - Get Report) shares are climbing 0.5% to $35.90 on Thursday afternoon due to the weaker dollar and the anticipation that U.S. production will decline, the Wall Street Journal reports.

Crude oil (WTI) is rallying 3.83% to $49.64 per barrel and Brent crude is jumping 3.72% to $53.24 per barrel, according to the index.

For a short amount of time, oil prices today were rising higher than $50 a barrel, for the first time since July, the Journal noted.

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Additionally, the conflict in Syria supported oil's futures on concerns that it would disrupt the oil flow in that region, MarketWatch said.

Based in London, BP operates as an integrated oil and gas company worldwide.

Separately, TheStreet Ratings team rates BP PLC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about...