Woodside Energy Group Ltd (WDS.AU) shares are soaring 9.09% in Thursday's trading session, as the Australian energy sector experiences a significant rebound following Wednesday's losses. The surge comes on the heels of recovering oil prices, which have climbed more than 4% in response to geopolitical developments.
The energy sub-index (.AXEJ) is leading the charge, marking its biggest intraday percentage gain since early November 2020, rising as much as 8.5%. This sector-wide rally is primarily driven by the increase in oil prices, which have responded positively to U.S. President Donald Trump's announcement of further tariffs on China while pausing those announced last week for most other countries.
Woodside Energy is not alone in this upward trend. Other major players in the Australian energy sector are also benefiting, with Santos (STO.AX) gaining 7.4%. Despite today's impressive gains, it's worth noting that the energy sub-index remains down 23.6% year-to-date, highlighting the volatile nature of the sector and its sensitivity to global economic and political factors.
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