Energy 10 March 2026 - 17 March 2026

Santos Limited climbed 2.1% to end Monday at A$7.69, outpacing a sluggish Australian market as investors rotated into energy stocks. The S&P/ASX 200 slipped 0.4%. Santos is under pressure right now. Back in February, the company announced plans to trim about 10% of its workforce and take a hard look at its Australian integrated oil and gas assets, responding to a 25% slide in underlying earnings. The Reserve Bank of Australia is widely tipped to hike rates again this week, adding another layer of uncertainty.

Woodside Energy Group Ltd’s American depositary shares trading in New York edged down 0.7% to $22.19 late Friday. Brent crude, meanwhile, finished at $103.14 a barrel—topping $100 for the first time since August 2022. The S&P 500 dropped 0.6%. “Headlines were hitting markets like water from a fire hose,” said Mitch Reznick, group head of fixed income at Federated Hermes. The mismatch is hitting now, with Woodside particularly vulnerable given its focus on oil and LNG, the latter moved as a super-chilled cargo by sea. Analysts at Goldman Sachs are calling for Brent to average above $100 in March and $85 in April. In a prolonged disruption scenario, they’re pegging fourth-quarter Brent at an average of $93, and say spot

SSE plc finished Friday’s session at 2,730 pence, gaining 0.96% on the day. The stock briefly hit a new 52-week high of 2,757 pence earlier in the day. This move came two days after the utility announced it had provisionally secured 3,581 MW of generation capacity for Britain’s 2029/30 power auction. SSE’s push is significant: the company wants investor support for a £33 billion, five-year expansion in UK grids and renewables. On Friday, shares rose, bucking a roughly 0.4% drop for the FTSE 100 as war-driven inflation rattled markets. Back in November, chief executive Martin Pibworth put it plainly when the plan was announced: “our world is rapidly electrifying.”

By 15:47 London time, Centrica was trading around 207.86 pence—up roughly 0.5% and sticking close to its 52-week high. Shares earlier hit 210 pence, extending Thursday’s sharp 3.09% gain that saw the stock close at 206.8 pence and break above its prior one-year top. This shift has real weight right now. Britain’s energy crunch is deepening, not easing. Reuters flagged a more than 60% jump in wholesale gas prices over the last two weeks, while Cornwall Insight expects Ofgem’s July price cap — the ceiling for what suppliers can bill households on default deals — to rise to 1,827 pounds, up from 1,641 pounds in April. Gas-fired plants still deliver about 30% of UK electricity, and over 70% of homes

Shell shares climbed 1.3% to lead a lagging FTSE 100 by 1058 GMT, getting a lift as crude hovered just shy of $100 a barrel. Thursday saw the stock jump 2.59% to finish at 3,328 pence; BP moved higher too, with buyers coming for the whole sector. This is crucial now, with Shell still counting on buybacks and dividends to bolster its equity story after a stretch of softer earnings. The group missed profit forecasts for the fourth quarter back in February but stuck to its $3.5 billion quarterly buyback, pushing total payouts to 52% of operating cash flow over the last four quarters—above its own target. Chief Financial Officer Sinead Gorman called that range “sacrosanct.”

Santos Ltd climbed 1.49% to close at A$7.49 on Thursday, tracking Brent crude’s jump to $100.46 a barrel. Oil prices responded to tanker attacks and new threats from Iran, keeping the Strait of Hormuz front and center. Santos stands out as one of Australia’s top oil and gas names, with ties to the LNG market. A lasting jump in crude and LNG prices has the potential to boost its cash flow. Still, the same oil price shock is stoking inflation and renewed rate worries, weighing on equities.

Woodside Energy Group Ltd's U.S. shares booked an 11.5 cent gain, ending Thursday at $22.33. Oil’s latest climb, edging closer to that $100 per barrel mark, gave the Australian name renewed attention among traders. Fresh worries about Middle East supply drove energy stocks higher, even as the wider market pulled back. The rally's significance is clear: softer realized oil and gas prices dragged Woodside’s 2025 underlying profit down to $2.65 billion, compared to $2.88 billion last year. Still, robust production numbers meant the company beat analyst estimates. Woodside reported its Scarborough project reached 94% completion and remains set to deliver first LNG—liquefied natural gas, gas cooled for shipping—in the fourth quarter of 2026. KCM Trade’s Tim Waterer called a potential

Shell shares nudged up on Thursday—though not nearly as much as crude prices. Investors appeared to be balancing the oil gains against new pressure in Shell’s gas segment, plus a broader downturn in European stocks. This is hitting now because Shell’s pitch to investors centers on cash returns. When oil and gas prices climb, operating cash flow gets a boost—fueling buybacks and dividends. But that same surge is jolting markets, fanning rate fears, and making it tougher for the world’s largest LNG trader to secure fuel.

Shell stock edged up roughly 0.5% in London by 1103 GMT on Wednesday, bucking the broader UK market’s slide. Oil prices were moving higher, and traders were digesting a Reuters report that Shell had paused some contractual LNG deliveries from Qatar. BP posted a comparable gain. The FTSE 100, on the other hand, moved lower. This shift is significant for Shell, given its central role in the ongoing energy crunch. Rising crude and gas prices have the potential to boost Shell’s profits. But as the world’s top LNG trader, Shell faces risks when Qatari supply falters.