A stop loss in the case of today would not guarantee a sale at just down 8%. If you had bought shares at $22 and set a stop at down 8%, or $20.34, you'd be forced to take what ever the price is at the market open since your stop becomes a market order when triggered.
as Rosneft cuts production.
"Iranian President Hassan Rouhani agreed to cooperate with Russia to support oil markets in a phone conversation with that country’s leader Vladimir Putin, according to Shana, the Iran oil ministry’s news service.
Rouhani and Putin “agreed on necessary cooperation” to shore up crude prices during the call yesterday evening, Shana said. The report provided no details of what the two presidents agreed on or whether they would take joint action."
"Saudi Arabia will this week push the Organization of Petroleum Exporting Countries (OPEC) to cut production by up to 1.5 million barrels a day to help re-balance the market and lift oil prices from their four-year lows, analysts and strategists told CNBC.
Nineteen out of 30 market professionals contacted by CNBC say OPEC's leading member Saudi Arabia will spearhead an agreement to cut supply at its November 27 meeting.
"Only a 1.5 million barrel-a-day reduction would help stabilize the price at this stage," Ole Sloth Hansen, head of commodity strategy at Saxo Bank, told CNBC."
I read the press release. Where does it say the Exxon deal was signed months ago?
"Seadrill secures a contract with ExxonMobil for employment of the West Saturn. The contract is for a firm period of two years plus a one year option and has a total revenue potential for the primary contract term of approximately US$497 million, inclusive of mobilization."
I don't see any other mention of this contract.