Sydney, July 9, 2026, 05:03 (AEST)
- Woodside gained 3.22% to A$28.87, lifted with other oil-linked stocks.
- Brent crude rose after fresh U.S.-Iran tensions.
- The ASX shut before trading started Thursday. Wednesday’s close is the most recent market price.
Woodside Energy Group Ltd ASX:WDS jumped 3.22% to A$28.87 on Wednesday, rising even as the wider Australian market slipped. Investors rotated back into oil and gas stocks after new trouble in the Gulf. The S&P/ASX 200 edged down 0.21% to 8,785.10. Energy was one of the few strong sectors.
No trades took place at the dateline. The ASX was scheduled to trade July 9 between 9:59 a.m. and 4:00 p.m. AEST, leaving Wednesday’s close as the last available cash-market price.
The shift is getting attention because Woodside’s earnings depend on oil and LNG prices. LNG is natural gas chilled to liquid for shipping. Oil moves higher on supply jitters, and that can give producers like Woodside with big upstream holdings a jump in value, at least for the short term.
Brent crude futures jumped $4.91, or 6.6%, to $79.07 a barrel. U.S. West Texas Intermediate was up 6.1% at $74.71 after another round of U.S.-Iran hostilities, according to Reuters. Before the conflict, about 20% of global oil passed through the Strait of Hormuz. Jorge Leon, geopolitical analysis lead at Rystad Energy, said the recent developments “significantly weaken any confidence” a truce could last. Reuters
Energy and LNG-linked utilities climbed as traders reacted to new tensions near the Strait of Hormuz. Stockhead said Santos ASX:STO jumped 6.35%, Woodside rose 3.34%, Origin Energy ASX:ORG added 1.7% and AGL Energy (ASX:AGL) ticked up 0.6%.
Woodside last traded at A$28.87 at 16:40 on July 8, according to delayed market data from Intelligent Investor. The shares touched a high of A$29.08 and a low of A$28.61 during the session. Woodside is still trading 19.36% under its 52-week high of A$35.80, which it hit on April 7.
Woodside isn’t only exposed to crude. Its Australian assets cover both operated and non-operated oil and gas, and it also holds projects in the US, Mexico, Africa, and the Caribbean. The range gives the stock more price levers, but adds execution risk to watch across multiple projects.
Scarborough is the next major operating milestone. Woodside says the Scarborough Energy Project is now over 96% done, not including work on Pluto Train 1, and first LNG cargo is set for the fourth quarter of 2026. The project will process around 5 million tonnes a year using Pluto Train 2, and up to 3 million tonnes at Pluto Train 1.
Woodside CEO Liz Westcott said in the first-quarter update that “higher spot prices will be realised in subsequent quarters for LNG due to lagged contract pricing,” with some contracts following market prices after a delay. The same report said Woodside has hedged 30 million barrels of oil equivalent for 2026 at $74.23 a barrel and 10 million barrels for 2027 at $76.76. Woodside
Woodside filed a director’s interest notice on Wednesday for Anthony Martin O’Neill, who stepped down from the board on July 1. The filing was administrative. O’Neill held 10,834 ordinary shares via the O’Neill Family Superannuation Fund.
But there’s a caveat to the rally. If Hormuz tensions cool, the extra oil price for supply risk could disappear fast. If things get worse, energy stocks could jump, but the broader market might fall on inflation and growth concerns. Woodside’s hedge book limits how much spot price gains hit earnings.
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