AD, good morning. You have any idea what's driving natural gas? I can't find anything. Watch Level 2 on UNG. There's been some serious buying going on for a while now, that's what prompted me to get in along with the chart. Whoever it is, is buying in big blocks consistently.
Answers are starting to surface on natural gas. This explains the unusually heavy big-block buying I've been witnessing for some time now.
NEW YORK (MarketWatch) -- Chesapeake Energy Corp. drew positive comments from analysts on Tuesday after it said it would spend $1 billion to promote wider use of natural gas as a transportation fuel, starting with a $150 million investment for Clean Energy Fuels Inc. and $155 million for privately held Sundrop Fuels.
NEW YORK (MarketWatch) -- Clean Energy Fuels Corp. /quotes/zigman/102863/quotes/nls/clne CLNE +8.22% shares rose 15% to $15.05 on Tuesday morning. Chesapeake Energy Corp. /quotes/zigman/126832/quotes/nls/chk CHK +0.44% said Tuesday it would invest $150 million in over three years to fund development of roughly 150 liquefied natural gas truck fueling stations. Raymond James analysts, who have a strong buy rating on Clean Energy, said its count of LNG fueling stations could grow 50% in 12 months with the investment. After the announcement, Northland Capital Markets analysts upgraded Clean Energy stock to outperform from market perform.
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