Shares of onshore U.S. exploration and production company Centennial Resource Development (NASDAQ: CDEV) rose as much as 7% on April 1. But that was a relatively small gain compared to Diamondback Energy (NASDAQ: FANG) , which jumped as much as 10%. Even better were Marathon Petroleum (NYSE: MRO) and SM Energy (NYSE: SM) , which saw highs of around 12% and 15%, respectively.
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Although all four of these names had pulled back from their peaks as the trading day drew to a close, they were still holding on to most of their gains. There's a somewhat complex web here backing these price moves even though they all boil down to just one main thing.
For further details see:
Why Centennial Resource Development, Diamondback Energy, SM Energy, and Marathon Oil All Rallied Today