The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

1809 ET - Amplitude Energy's next well is effectively a must-win for the growth thesis, says Morgans. Amplitude recently said the natural-gas discovery by the Isabella-1 well couldn't be developed commercially. Analyst Adrian Prendergast says Amplitude's balance sheet and A$100 million of Ebitdax in 1H buy it time. "Our view on value in Amplitude has been dented, but not destroyed," Morgans says. Still, it retains a buy call. "While it is hard to ignore such large short-term catalysts, we keep coming back to our value on Amplitude's existing production of A$2.75/share, which remains a high-watermark, low-case valuation for the stock," Morgans says. Amplitude ended last week at A$1.59/share, roughly half of Morgans's new A$3.00/share price target. (david.winning@wsj.com; @dwinningWSJ)

1729 ET - Australian refineries can only meet a fraction of domestic fuel demand, says Jefferies. The conflict in Iran is driving up prices of gasoline and diesel, with Australia's competition regulator concerned about supply issues in areas including city suburbs, regional towns and remote areas. Jefferies estimates Australia's refinery production can meet some 37% of gasoline demand and only around 14% of diesel demand. That's based on an analysis of Australian Petroleum Statistics data for last year. "Even in Queensland and Victoria, where Ampol and Viva Energy have refineries respectively, production at Lytton and Geelong is insufficient to meet total state demand for either gasoline or diesel," analyst Michael Simotas says. (david.winning@wsj.com; @dwinningWSJ)

1706 ET - The Australian economy could have gone backward because of the oil price shock and threat to energy supply, says Rory Robertson, economist at Five-Ways Economics. If the economy didn't actually shrink in March, then growing constraints across many industries via the suddenly elevated price and reduced availability of fuel--especially diesel--may force economic activity to shrink modestly in April, he says. The outlook depends on whether or not the problem goes away as quickly as it arrived, Robertson says. The history here is that sudden--and then prolonged--oil shocks tend to be economic disasters, Robertson adds. (james.glynn@wsj.com; X @JamesGlynnWSJ)

1703 ET - Australia's national cabinet meeting will aim to shore up fuel supplies as leaders hope to avoid more "heavy handed" measures to deal with a crisis that is driving up gasoline prices and clouding the economic outlook, says Treasurer Jim Chalmers. A unified approach to the crisis should alleviate any need for fuel rationing, which so far hasn't been required. Chalmers says the meeting will consider a range of responses, but he would not be drawn on the option of cutting fuel taxes to lower costs for consumers. Chalmers said he expects the economy to continue growing, although it will take a hit from the global oil crisis. (james.glynn@wsj.com; X @JamesGlynnWSJ)

1701 ET - Australian Prime Minister Anthony Albanese will convene a national cabinet meeting in Canberra to address the growing energy crisis affecting the economy. The meeting, which will include state government leaders, is expected to discuss the issue of fuel rationing. Albanese has called for unity across states on how this could be applied if needed. For now there is no rationing. Albanese is also facing calls to ease federal fuel taxes to lower prices for consumers, but the main thrust of the meeting will be on strengthening supply chains. (james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

March 29, 2026 18:09 ET (22:09 GMT)

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