Clean Energy Fuels Trading Higher After Obama's Natural Gas Announcement
Clean Energy Fuels Corp (NASDAQ: CLNE) is trading higher on the session following President Obama's announcement that he will launch a new program to research how to increase natural gas usage in cars. This announcement follows the recent rally in the crude oil futures price, which has brought the gas prices close to the $4 mark.
Clean Energy Fuels is in the business of selling natural gas fueling solutions and a provider of natural gas as an alternative fuel for vehicles. The stock is up 45% year-to-date and hs been performing extremely well after president Obama spoke positively about the future of natural gas solutions in his State of the Union speech.
Other companies that the traders should keep their eyes on are Cummins (NYSE: CMI) and Westport Innovations (NASDAQ: WPRT), which are also providing natural gas based solutions. Additionally, the United States Natural Gas Fund (NYSE: UNG) could benefit from the increase in demand.
Clean Energy Fuels is currently trading at $18.22, a gain of $0.70 or 4.00%.
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