Why Chesapeake Energy Stock Is Surging Today
Shares of Chesapeake Energy (NYSE: CHK) were up as much as 24% by 10:15 a.m. EDT on Thursday. While there wasn't any company-specific news fueling the oil stock's rally, there were two likely catalysts: oil prices and an interest-paying peer.
One likely driver of today's rally in Chesapeake Energy was an uptick in the price of oil. WTI, the primary U.S. oil price benchmark, bounced back after yesterday's plunge, rising by about 1% in midmorning trading. That's fueling a bit of a rebound in most oil stocks today, including Chesapeake, which sold off yesterday.
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Source Fool.com
