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Chevron (CVX) Stock Climbs Alongside Oil Prices

NEW YORK (TheStreet) -- Shares of Chevron (CVX) were gaining in late-afternoon trading on Monday as higher oil prices benefit the San Ramon, CA-based oil and gas giant.

Crude oil (WTI) was recently increasing 0.46% to $46.09 per barrel, while Brent crude was up 0.33% to $48.17 per barrel.

Oil prices were trading higher on a weaker dollar and reports of a drop in stockpiles at the key storage hub at Cushing, OK.

The dollar has weakened after Federal Reserve Governor Lael Brainard tempered expectations that the central bank will soon raise interest rates. A weaker greenback makes dollar-priced commodities such...