| Videos | Channels | Search |
Garnry: Deep losses for drillers
The low oil price is hitting the energy sector hard and offshore drilling companies in particular. Transocean for example is down more than 50% since June. Saxo Bank’s Peter Garnry says the stock faces a long climb back from the deep.
Saxo Bank’s Head of Equity Strategy Peter Garnry says future markets are extremely negative on Transocean shares. Offshore drilling companies are extremely sensitive to the plunge in low oil prices because most need oil prices at around 80 USD a barrel to be profitable.
Instead markets are betting on exploration and production companies like Anadarko. While its shares are also down, the company is expected to bounce back faster if oil prices recover as E&P companies are less sensitive to oil price swings.
02:10 minutes
Tags: bonds, drilling, energy, energy companies, energy demand, energy industry, energy market, energy prices, energy sector, energy stock prices, energy supply, energysector, equities, equities 2014, equities saxo, equities trading, equity, equity index, equity market, equity market 2014, equity markets, equity portfolio, equity portfolios, equity strategy, equity trading, exploration, oil, oil market, oil price, oil supply, peter, peter garnry, peter garnry saxo bank, petergarnry, production, saxo, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotrader, saxotv, trade, trade idea, trader, traders, trading, trading equities, trading equity, trading floor, trading idea, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, yields