BUZZ-Australian energy stocks continue to rally as oil gains on supply concerns

Reuters

2025/03/28

** Australian energy stocks .AXEJ rise 0.7% to their highest since March 5, continuing their rally for a fourth consecutive session

** Oil prices hold near one-month highs on Friday, poised for a third weekly gain on a tightening global supply outlook after the U.S. imposed tariffs against countries buying oil and gas from Venezuela and placed restrictions on Iranian oil trade

** Sector heavyweight Woodside Energy WDS.AX gains 0.7% to A$23.765, hitting its highest level since early March

** Oil and gas giant Santos STO.AX marks over a one month-high, rises 1.3% to A$6.775

** The sub-index is set to gain 1.9% this week

** The benchmark S&P ASX 200 index .AXJO is up 0.07% in the current session

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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