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Chevron (CVX) Stock Retreating As Stronger Dollar Weighs on Oil Prices

NEW YORK (TheStreet) -- Shares of Chevron (CVX) were down in mid-afternoon trading on Friday, after oil prices dropped.

Crude oil (WTI) was down 0.36% to $41.78 per barrel and Brent crude was falling 0.27% to $44.17 per barrel this afternoon.

Oil prices are falling today after rallying for two days on better-than-expected U.S. jobs data, Reuters reports.

The drop in oil prices comes as the dollar gains strength on the jobs data, making oil more expensive and thus less attractive to foreign investors, Reuters said.

Also on Friday, the U.S. oil rig count rose for the...


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