Key Points Strikes on both Russian and Ukrainian oil refineries spurred another increase in oil prices. They follow last week's strike on Saudi Arabia's East-West pipeline. Further curtailments to land-based global supply should benefit offshore rig giant Valaris, which is attempting to merge with Transocean. 10 stocks we like better than Valaris › Shares of offshore drilling equipment provider Valaris (NYSE: VAL) rallied 8.5% on Tuesday. While Valaris didn t report company-specific news today, oil prices rose about 4.5% as of this writing, reaching roughly $106 per barrel. Oil prices were climbing as overseas supply took another hit, this time due to the Russia-Ukraine conflict.
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