WTI crude oil for August delivery was up 0.82% to $58.81 a barrel Tuesday morning, and Brent crude oil for August delivery was up 1.81% to $63.13 a barrel.
Oil prices were gaining as Iran and six world powers engaged in negotiations about blocking the country's path to building a nuclear weapon, according to the Wall Street Journal. The nuclear negotiations could lead to the world powers involved in the talks lifting sanctions on Iran.
A deal with Iran could lead to the country increasing its oil exports over time.
Transocean is a Switzerland-based offshore drilling contractor that rents floating mobile drill rigs along with equipment and personnel to oil companies.
TheStreet Ratings team rates TRANSOCEAN LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRANSOCEAN LTD (RIG) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: