Shares of Core Laboratories (NYSE: CLB) rose as much as 5% in early trading on July 1. Following close behind was Centennial Resource Development (NASDAQ: CDEV) , which rose roughly the same amount. Transocean (NYSE: RIG) , meanwhile, jumped a heady 12% shortly after the open.
While all three had given back some of their gains by roughly 11:30 a.m. EDT, the story behind the early price action in these energy industry names was basically all the same: oil prices.
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Why Core Labs, Centennial Resource Development, and Transocean Popped in Early Trading Today