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Transocean (RIG) Stock Slides, Oil Drops on Stronger Dollar

NEW YORK (TheStreet) -- Transocean (RIG) shares are retreating 3.51% to $9.34 on Friday as oil prices slipped on the stronger dollar.

The greenback reached a two-week high against a basket of currencies, Reuters reports, citing expectations that the Federal Reserve will hike interest rates again before other major central banks do.

Crude oil (WTI) is slumping 1.07% to $46.20 per barrel and Brent crude is declining 0.6% to $47.79 per barrel.

Futures couldn't hold on to earlier gains in the week when prices went up as production was disrupted by the Canadian wildfires. Futures earlier were also supported by...