Crude oil (WTI) has fallen 3.20% to $45.91 per barrel and Brent crude is down 3.26% to $47.21 per barrel.
Oil has lost the gains it made in the market this morning and yesterday.
The Energy Information Administration announced today that weekly crude inventories dropped by 2.2 million barrels, far less than the anticipated 6.7 million barrel drop reported last Wednesday, CNBC reports.
Transocean recently began to refinance, offering $1.5 billion of notes due 2023. It also made a cash tender offer to buy up to $1 billion in notes.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
This is driven by multiple weaknesses, which TheStreet Ratings believes 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 TheStreet Ratings covers.
Among the areas TheStreet Ratings feels are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: RIG
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.