Australian energy stocks hit two-week low as oil prices slip

Santos

Mon 02:25

** Australian energy stocks .AXEJ fall as much as 2.32% to their lowest level since June 1 after news of a U.S.-Iran peace deal sent oil prices to their lowest level since March
** Brent crude futures LCOc1 fell to $83.75 a barrel by 0004 GMT after U.S. and Iranian officials said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz O/R
** Australian energy sub-index falls by most in three weeks
** Santos STO.AX tumbles 2.7%, while refiner-retailers Viva Energy VEA.AX and Ampol ALD.AX fall 4.4% and 3.1%, respectively
** Woodside Energy WDS.AX down 0.9%
** Responding to reports that Exxon Mobil XOM.N considering a potential acquisition of the LNG producer, Woodside said it was not engaged in such discussions 
** YTD, the sub-index up 22.4%, with most gains concentrated in March, following the start of the U.S.-Iran war in late Feb 

 (Reporting by Shruti Agarwal in Bengaluru)
 ((Shruti.Agarwal@thomsonreuters.com))