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Noble (NE) Stock Falls as Oil Prices Dip

NEW YORK (TheStreet) -- Shares of Noble (NE - Get Report) are down by 0.5% to $12.90 on Wednesday afternoon, as crude prices retreated from their brief rally earlier in the day.

Oil prices fell earlier today after the U.S. Energy Information Association reported that crude stockpiles increased by 3.1 million barrels, versus analysts' consensus 2.5 million barrel expectations, to 461 million barrels last week.

The increase marks the second consecutive week that U.S. stockpiles have risen.

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Industry standard Brent crude for November delivery was down 0.92% to $51.44 per barrel.

West Texas crude for November delivery was still down 1.46% to $47.82 per barrel, but the commodity has pared its wider losses from morning trading.

Separately, TheStreet Ratings team rates NOBLE CORP PLC as a Hold with a ratings...