Australian energy stocks down after oil prices fall overnight

Santos

05/08/2026 01:38

** Australian energy stocks .AXEJ fall as much as 2%, posting their biggest intraday pct drop since July 27 
** Sub-index hits its lowest level since July 28
** Oil prices fell more than 5% overnight after comments by Qatari and U.S. officials raised hopes for a diplomatic resolution to the Iran war, which could improve oil flows through the Strait of Hormuz O/R
** Among sector heavyweights, Woodside Energy WDS.AX down nearly 3%, while Santos STO.AX slips 1.6%
** AXEJ up about 24% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))