Why These Energy Stocks are Gaining This Week

3. Transocean Ltd. (NYSE:RIG)

Share Price Gains Between Oct. 17 and Oct. 24: 19.63%

Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.

Transocean Ltd. (NYSE:RIG) soared following the excitement around the company’s upcoming Q3 2025 reports, which it is set to announce on October 29. Moreover, the stock received a significant boost after a recent rebound in global crude oil prices, with the WTI crude oil futures gaining by almost 8% between October 17 and October 24. The increase comes on the back of the United States blacklisting Russian oil giants Rosneft and Lukoil in an effort to pressure the Kremlin to negotiate a peace deal in Ukraine.

Following the recent uptick, the share price of Transocean Ltd. (NYSE:RIG) has jumped by more than 68% over the last six months.