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Oasis Petroleum (OAS) Stock Drops as Oil Prices Slump

NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) are falling 7.5% to $7.28 in midday trading Wednesday as oil prices hit a two-month low after U.S. data showed an unexpected rise in crude and gasoline inventories.

Crude oil (WTI) is retreating 2.26% to $41.95 per barrel and Brent crude is sinking 2.63% to $43.69 per barrel this afternoon.

The Energy Information Administration said domestic crude stocks increased by 1.7 million barrels, while analysts were expecting a decline of 2.3 million barrels, Reuters reports.

"A drop in...