Wednesday, May 11, 2011

Chesapeake Energy (CHK) Trades Up as Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share price of Chesapeake Energy Corp. (NYSE:CHK).

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

Chesapeake Energy Corporation produces natural gas in the United States from onshore fields.

Chesapeake Energy Corp. (CHK) closed at $31.62, gaining $0.32, or 1.02 percent.

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