Australian energy stocks set for worst week in 4 months as oil prices slump

Washington H. Soul Pattinson and

01/04/2022 02:00

** Australian energy stocks  .AXEJ  drop as much as 2.2% for
the week, on track for their worst week since Nov. 26, 2021, if
losses hold
    ** The energy sub-index tracks Thursday's fall in U.S. oil
prices, as U.S. President Joe Biden announced the largest ever
release from the Strategic Petroleum Reserve and called on oil
companies to increase drilling to boost supply  O/R 
    ** Fuel supplier Ampol  ALD.AX  slips as much as 1.9% and is
among top losers on AXEJ
    ** AXEJ heavyweights Woodside Petroleum  WPL.AX  and Santos
 STO.AX  lose as much as 0.6% and 0.5%, respectively
    ** Oil and gas explorer Beach Energy  BPT.AX  declines up to
~1%
    ** The energy sub-index up 25.1% YTD, as of last close

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))