Woodside Energy Stock (ASX:WDS) Falls as Oil Peace Premium Fades, Browse Exposure Looms
Woodside Energy Group fell 0.9% to A$28.77 on Monday, underperforming the Australian benchmark as investors cut the premium attached to Middle East supply risk. The shares opened at A$29.20, reached A$29.28 and later touched A$28.56. Oil drove the move. Progress in U.S.-Iran negotiations, the reopening of the Strait of Hormuz and a temporary U.S. licence permitting Iranian oil sales through August 21 all pointed to more barrels reaching the market. Brent was down 3.8% at $77.44 in later trade.
