Young Americans speculating on energy stocks appear to be behind the surge in Sasol's share price over the past three weeks, casting doubt on the sustainability of the synfuels and chemicals giant's recent stock rally.

Fund managers say the meteoric rise in the share price - at one stage increasing some 127% to about R180 in 10 days - is overdone and is primarily due to young investors in the US making use of American depository receipts (ADRs) to obtain positions in Sasol. The share has since dropped back to close at R146 on Friday...

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