FTI wins $1B+ in subsea deals, but oil slump from Iran deal weighs
Iran deal and Hormuz reopening crush oil prices The US-Iran interim deal reopened the Strait of Hormuz and eased sanctions, sending crude down about 40% from its wartime peak. Lower oil prices reduce drilling activity, which directly hurts demand for TechnipFMC's subsea equipment and services, pushing the stock down.
This is the main negative force this period, explaining why FTI fell despite strong contract wins.
Major subsea contract wins boost order backlog TechnipFMC won several large contracts: a $500M-$1B iEPCI award from Vår Energi, $250M-$500M from Equinor, and $75M-$250M each from Azule and Eni. These add to inbound orders and future revenue, supporting the stock.
These awards are the key positive driver, showing strong demand for FTI's services even as oil prices fall.