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DO - Oil At $71 Drillers Are Lagging What's Going On?
Diamond Offshore Drilling Inc.
Brent oil (BNO) quickly spurted to $71 per barrel as tensions in Libya intensified and the U.S. labeled Iran’s Revolutionary Guards as a terrorist group. The whole setup was favorable for everything oil-related to rally, but offshore drilling stocks had a disappointing day. At the time of writing these words, Transocean (RIG), Diamond Offshore (DO), Rowan (RDC), Ensco (ESV), Noble Corp. (NE), Seadrill Partners (SDLP), Awilco Drilling (AWLCF), Borr Drilling (BDRLF), and Pacific Drilling (PACD)