BUZZ-Australia's energy stocks hit more than 3-year low on weaker oil prices

Reuters

2025/03/07

** Australian energy stocks .AXEJ drop as much as 1.2% to their lowest level since December 22, 2021

** Sub-index falls for a fourth straight session, down 6.7% so far in the week in what could be its biggest weekly drop since September 6

** Oil prices dropped below $70 per barrel this week amid planned output hike announced by major producers and higher-than-expected U.S. crude stockpiles O/R

** Oil and gas major Santos STO.AX skids as much as 1.6% on Friday to its lowest since September 2021, while Woodside Energy WDS.AX drops up to 1.1%

** Sub-index down 8.5% so far this year

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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08:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Australia's energy stocks hit more than 3-year low on weaker oil prices</title></head><body><p>** Australian energy stocks <span>.AXEJ</span> drop as much as 1.2% to their lowest level since December 22, 2021</p><p>** Sub-index falls for a fourth straight session, down 6.7% so far in the week in what could be its biggest weekly drop since September 6</p><p>** Oil prices dropped below $70 per barrel this week amid planned output hike announced by major producers and higher-than-expected U.S. crude stockpiles <span>O/R</span></p><p>** Oil and gas major Santos <span>STO.AX</span> skids as much as 1.6% on Friday to its lowest since September 2021, while Woodside Energy <span>WDS.AX</span> drops up to 1.1%</p><p>** Sub-index down 8.5% so far this year</p><p> (Reporting by Nichiket Sunil in Bengaluru)</p><p> 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