Aussie energy stocks gain most in 3 weeks tracking oil surge

Beach Energy

25/06/2024 01:44

** Australian energy stocks  .AXEJ  rise as much as 1.6%,
their biggest intraday pct gain since June 3, if current trend
holds 
    ** Oil prices rose about 1% on Monday, spurred by the
prospect of a strong summer driving demand and as tensions in
the Middle East and drone attacks on Russian refineries led to
concerns about supply  O/R 
    ** An easing U.S. dollar added to the crude price strength
    ** Sector heavyweight Woodside Energy  WDS.AX  rises as much
as 3%, on track for its best day since Nov 14
    ** Other sector majors Santos  STO.AX  jumps as much as 1.5%
while Beach Energy  BPT.AX  rises as much as 1.7%
    ** The sub-index has fallen 8.2% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))