New 14 Year Low In BP Shares (BP, RIG)

BP BP has established a new low today. The shares are now trading at their lowest level since August of 1996. Currently, the stock is trading hands for $28.83, 2.83% lower on the trading session. Over the last 3 months, BP has fallen nearly 50% after a drilling rig the company was leasing from Transocean RIG exploded and sunk in the Gulf of Mexico, leading to the worst oil spill in history. Transocean (RIG) shares are also under renewed pressure today, as that stock has lost 4.25% to $50.52. RIG had traded as high as $94.88 earlier this year.