Higher Crude Prices, Encouraging OPEC Report Send Shares of Transocean Higher

Shares of Transocean (RIG), an offshore oil driller, closed Monday's trading day up over 10%, making it TheStreet's move of the day. Even though OPEC said oil demand growth isn't heating up, the organization said low prices should boost sales and it bumped up estimates on crude oil demand by about 430,000 barrels, compared to its previous estimate, according to a Monday report. This sent shares of Transocean higher. Prices for West Texas Intermediate rose almost 2% today settling at $52.67 per barrel. Oil stocks have been hit hard by the precipitous drop in crude prices as of late. TheStreet's Scott Gamm reports from New York. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet