Australian energy stocks fall as oil prices slide 2%
26/08/2026 06:43
BUZZ-Australian energy stocks fall as oil prices slide 2% Updates
** Australian energy stocks .AXEJ fall as much as 2.9%, posting their biggest intraday pct loss since July 27
** Sub-index hits its lowest level since August 17
** Oil prices drop about 2% on fresh hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway O/R
** "Market is also starting to price in the possibility of Iranian barrels returning, which could shift the supply-demand dynamics" - Cliff Man, CEO, ETF Shares
** Woodside Energy WDS.AX falls over 4%, while Santos STO.AX loses 2%
** AXEJ up nearly 30% this year, including the day's move
(Reporting by Rajasik Mukherjee in Bengaluru)
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