Energy Producers' Shares Fall Despite Surge in Global Oil Prices Amid Middle East Tensions

MT Newswires Live

03/31

Shares of Santos (ASX:STO) and Karoon Energy (ASX:KAR) fell around 2% and 3%, respectively, in recent Tuesday trade despite a sharp rise in global oil prices following Iran's attack on a Kuwaiti tanker in the Persian Gulf and escalating threats from US President Donald Trump against Iranian infrastructure.

Woodside Energy Group (ASX:WDS) edged down, earlier hitting its highest level since September 2023.

Brent crude futures rose 1.9% to $109.47 a barrel.

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