$RIG
Transocean Ltd
PRICE
$7.42 -
Extented Hours
VOLUME
20,391,630
DAY RANGE
7.26 - 7.63
52 WEEK
2.74 - 8.88
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@ivtrades-Chris #ivtrades
$RIG- Bullish option flow detected in Transocean (8.43 +0.29) with 15,948 calls trading (1.0x expected) and implied vol increasing almost 2 points to 51.59%. . The Put/Call Ratio is 0.27. Earnings are expected on 11/01. The SEP 29th 8.50 & 9.00 Calls are active.
53 Replies 6 π 6 π₯
@trademaster #TradeHouses
Investing.com -- Oil prices stabilized Monday as investors balanced off concerns about a hit to U.S. economic activity following last weekβs Federal Reserve meeting with a tight supply outlook. By 09:10 ET (13.10 GMT), the U.S. crude futures traded 0.1% higher at $90.10 a barrel, while the Brent contract climbed 0.1% to $92.03 - not far from last weekβs 10-month high. Crude market steadies after last weekβs hit The crude market registered its first losing week in four last week, largely because of pressure from hawkish messaging from the Federal Reserve, as the central bank projected higher-for-longer interest rates, potentially hitting economic activity in the worldβs largest energy consumer. This line also boosted the dollar to its highest levels in six months, which makes commodities denominated in the greenback, such as oil, more expensive for foreign buyers. However, the market remains elevated after Russia suspended most fuel exports in a bid to address rising local gasoline prices. This move, although deemed temporary, is still expected to substantially tighten oil markets in the coming weeks, given that Russia and Saudi Arabia also cut production by a combined 1.3 million barrels per day for the remainder of the year. U.S. oil rig count falls again Adding to the expectations of a very tight market towards the end of the year was the latest data from Baker Hughes, showing that the U.S. oil rig count fell by 8 over the last week to 507 - a drop of 114 rigs since the start of the year. βThe fall in rig count this year is what has given OPEC+ the confidence to cut output without having to worry too much about losing market share to non-OPEC producers,β said analysts at ING, in a note. Speculative net long positions grow Speculators remain constructive towards the market, with the speculative net long positions in the ICE Brent contract grew by almost 18,000 lots over the last reporting week. βThis is the largest net long speculators have held since March, and the increase over the week was predominantly driven by short covering,β ING added. Similarly, speculators increased their net long positions in the Nymex WTI by just over 15,000 lots, to the largest position held since February last year. Inflation, PMI data on tap This week sees important inflation data from Japan, the eurozone and the U.S., while several Fed members, most notably Chair Jerome Powell on Friday, are due to speak, amid growing concerns that rising oil prices could trigger a resurgence in inflation, attracting more hawkish moves by global central banks. Additionally, traders will also focus on Chinaβs purchasing managersβ index data for September, after PMIs for August showed some signs of improvement, particularly in the manufacturing sector.
59 Replies 10 π 7 π₯
@trademaster #TradeHouses
Investing.com -- Oil prices rose Monday, helped by another rate cut from China, the worldβs largest crude importer, as well as the prospect of tighter supplies. By 09:30 ET (13:30 GMT), the U.S. crude futures traded 0.8% higher at $81.27 a barrel, while the Brent contract climbed 0.8% to $85.46. PBOC cuts rates again The Peopleβs Bank of China cut its one-year loan prime rate by 10 basis points to 3.45% earlier Monday. While this was less than had been expected, and the five-year rate which is used to determine mortgage costs was left unchanged, this still suggests that Beijing is determined to support the second largest economy in the world as it struggles with a slowing post-COVID economic recovery. The PBOC unexpectedly cut short and medium-term lending rates last week. Supplies continue to tighten Worries over the strength of the Chinese economic recovery contributed to the losses last week when benchmark oil prices snapped a 7-week winning streak last week to post a weekly loss of 2%. That said, prices are still over 5% higher in the last month following the announcement of deep output cuts by Saudi Arabia and Russia, the two largest producers in the OPEC+ grouping. These producers said that recent cuts will extend until at least the end of September -- a scenario that is expected to limit crude supplies by nearly 70 million barrels over 45 days. Adding to this, the latest rig data from Baker Hughes shows that the number of active oil rigs in the U.S. fell by 5 over the week to 520 - the lowest level since March last year. βThe U.S. has lost 107 oil rigs since early December and it is not too surprising that this reduced drilling activity means that oil production growth forecasts for later this year and through 2024 are looking relatively modest,β said analysts at ING, in a note. Net long Brent positions rise These expectations of tightening supplies no doubt helped speculators decide to increase their net long positions in the ICE Brent contract by 19,748 lots to 230,735 lots, despite oil prices edging lower over the reporting period. βThe move was driven by fresh longs, suggesting that some speculators took advantage of more recent price weakness to enter the market from the long side,β ING added. (Ambar Warrick contributed to this article.)
48 Replies 7 π 7 π₯
Key Metrics
Market Cap
5.94 B
Beta
0
Avg. Volume
16.11 M
Shares Outstanding
766.70 M
Yield
0%
Public Float
0
Next Earnings Date
2023-11-01
Next Dividend Date
Company Information
transocean is a leading international provider of offshore contract drilling services for oil and gas wells. the company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world. building on more than 50 years of experience , our employees are focused on safety and premier offshore drilling performance.
CEO: Jeremy Thigpen
Website: http://www.deepwater.com/
HQ: Turmstrasse 30 Steinhausen, 6312 Zug
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