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Oasis Petroleum (OAS) Stock Slides with Dropping Oil Prices

NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are dropping 5.68% to $7.64 this afternoon as oil prices reach two and a half-month lows.

Crude oil (WTI) is falling 2.38% to $43.14 per barrel and Brent crude is down 2.08% to $44.74.

A stockpile of refined products including gasoline despite forecasts for record U.S. summer driving has led to a pessimistic view of the market rebalancing, CNBC reports.

Investors are concerned about a rising global fuel glut. As the dollar strengthens and U.S. drillers add active rigs, analysts said that U.S. oil...


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