Australian energy stocks slide as oil prices extend losses

Beach Energy

06/02/2026 02:21

** Australian energy stocks .AXEJ fell 2.6%, on track for their biggest intraday drop since September 18

** The sub-index is on track for its steepest weekly drop since the week-ended December 19, falling 2.3% so far

** Oil extends decline after worries about supply disruption in the Middle East eased with focus on the outcome of U.S.-Iran nuclear talks in Oman later in the day O/R

** Woodside Energy WDS.AX falls as much as 2.4%, its biggest intraday drop since January 7

** Santos STO.AX slips as much as 2.7%

** Oil and gas explorer Beach Energy BPT.AX extends losses to decline as much as 5.4%, its steepest intraday drop since August 28, a day after it reported a slide in HY profit due to higher costs and softer oil prices

** Sub-index gained 10.6% in January

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))