Aussie energy stocks climb after oil prices rise on slowing rate-hike hopes

Washington H. Soul Pattinson and

20/01/2023 02:31

** Australia's energy index  .AXEJ  rises as much as 2.2%,
their biggest intraday percentage gain since Jan 13 
    ** Oil prices rose on Friday on optimism that the U.S.
Federal Reserve will end its monetary policy tightening cycle
after a 25 basis point hike at each of its next two policy
meetings, buoying the economy and boosting fuel demand.  O/R 
    ** Santos  STO.AX  advances 1.7%, while Woodside Energy
 WDS.AX  gains 1.2% 
    ** Shares for Ampol  ALD.AX   and Washington H Soul
Pattinson  SOL.AX  are up 1.1% and 0.8%, respectively 
    ** AXEJ up 2.6% this year so far, and rose nearly 40% in
2022  
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))