4 ASX energy shares trading higher today

And up through the ground come a bubbling crude. Oil that is, black gold, Texas tea.
The post 4 ASX energy shares trading higher today appeared first on The Motley Fool Australia. –

ASX energy shares are largely moving higher today.

While many factors impact each individual company’s share price, ASX energy shares are undoubtedly enjoying a continuing surge in oil prices.

Currently at US$74.49 (AU$96.75) per barrel, Brent crude is trading at its highest levels in more than 2 years.

Indeed, as recently as 30 October, Brent was selling for a mere US$37.46 per barrel. Or roughly half what it’s fetching today.

Little wonder then that we see most ASX energy shares benefiting.

What’s ahead for oil?

Oil prices have been soaring on the back of demand and supply imbalances.

Demand has been resurgent as the world emerges from pandemic lockdowns. Supply has been reduced due to successful efforts by OPEC+ (which includes Russia) to cut output, along with far less shale oil coming out of the US since COVID struck.

Mike Muller is Vitol Group’s head of Asia. Vitol, if you’re unfamiliar, is the world’s biggest independent oil trader.

According to Muller (as reported by Bloomberg), with US output down OPEC+ is in the driver’s seat when it comes to managing prices. “There’s a perception in the market that control is with OPEC+. It will take a long time for US oil to come back,” Muller said.

Muller expects China’s economic growth will also drive further demand for oil and bring down crude stockpiles.

Now, even for the experts, forecasting the price of oil is contingent on many factors. Should US supply unexpectedly ramp up, or should global energy demand falter in the face of renewed virus lockdowns, the oil price would almost surely retrace.

4 ASX energy shares trading higher today

There’s a rather lengthy list of ASX energy shares, big and small, trading higher today.

For the purposes of this article, we’ll look at 4 of the bigger, leading players.

First up, Santos Ltd (ASX: STO). The S&P/ASX 200 Index (ASX: XJO) listed energy share has a market cap of $16.2 billion and is currently trading for $7.79 per share. The Santos share price is up 1.5% in intraday trading and has gained 24.2% so far in 2021.

Next, we have Woodside Petroleum Limited (ASX: WPL). Woodside is another ASX 200 energy share, with a market cap of $23.5 billion. The Woodside share price is up 2.9% in early afternoon trade and up 7.3% year-to-date.

On the smaller end of this pack is Senex Energy Ltd (ASX: SXY), with a market cap of $656 million. The Senex share price is up 4.23% today and has gained 41.8% so far in 2021.

Finally, we leave off with ASX energy share Oil Search Ltd (ASX: OSH). Also an ASX 200 company, Oil Search has a market cap of $8.7 billion. The Oil search share price is up 2% in intraday trading and up 13% year-to-date.

The post 4 ASX energy shares trading higher today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

5 things to watch on the ASX 200 on Wednesday

Santos (ASX:STO) boss says investors and banks are ditching fossil fuels
Why ASX energy shares could outperform this morning

ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound

5 things to watch on the ASX 200 on Tuesday

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!