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Transocean (RIG) Stock Falling With Oil Prices

NEW YORK (TheStreet) -- Shares of Transocean (RIG) are down 3.27% to $12.42 this afternoon as oil prices begin to dip.

Crude oil (WTI) is down 4.36% to $44.76 per barrel and Brent crude is dropping 4.52% to $44.28 per barrel.

The International Energy Agency said today that a large global supply was threatening market recovery.

The U.S. Energy Information Administration also released a report this morning that crude oil supplies fell by 2.5 million barrels for the week ending July...