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WPX Energy (WPX) Stock Escalating Amid Higher Oil Prices

NEW YORK (TheStreet) -- Shares of WPX Energy (WPX - Get Report) are gaining by 7.56% to $9.96 in midday trading on Thursday, as the rally in oil prices drives some energy and related stocks into the green.

Crude oil (WTI) is up by 1.63% to $46.04 per barrel and Brent crude is soaring by 1.97% to $48.11 per barrel.

The price of the commodity is trading in positive territory, hitting fresh 2016 highs for the third consecutive day, as the dollar weakens, Reuters reports. Assets dominated by the greenback become less expensive to those that hold other currencies when the dollar declines.

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