Australian energy stocks eye best week in more than a month

Boss Energy

16/08/2024 02:38

** Australian energy stocks  .AXEJ  rise as much as 2.2% to
hit their highest level since Aug 5
    ** Sub-index up 1.4% for the week, on track for best week
since July 5, if current gains hold
    ** Oil prices gained this week after U.S. economic data
allayed fears of a recession and on worries of a widening
conflict in the Middle East  O/R 
    ** Shares of top energy firms Woodside Energy  WDS.AX  and
Santos  STO.AX  rise as much as 2.6% and 2%, respectively, on
Friday 
    ** Deep Yellow  DYL.AX  and Boss Energy  BOE.AX  rise up to
5% and 3.8%, respectively, to become top gainers in the
sub-index
    ** Deep Yellow hits highest level since Aug. 2, heading for
a third straight session of gains
    ** AXEJ down 12.2% YTD, as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))