Insights

Energy sector leading the ASX 200 shares on Tuesday

ASX 200 energy shares are surging today….
The post Energy sector leading the ASX 200 shares on Tuesday appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is starting this Tuesday off on the front foot. At the time of writing, the ASX 200 is up a healthy 0.4% to 7,519 points. The sector contributing the most to today’s gains is currently ASX energy shares.

As it currently stands, the S&P/ASX 200 Energy Index (ASX: XEJ) is the top-performing sector of the entire ASX 200. It’s currently up 2.48% to 7,504 points. Of the nine ASX enegy shares that make up this index, only one is currently in the red today. That would be Whitehaven Coal Ltd (ASX: WHC).

Other than Whitehaven, we are seeing some very strong moves here. At the top of the pile is Woodside Petroleum Limited (ASX: WPL). Woodside shares are currently up a very healthy 3.15% to $20.30 a share. Close on Woodside’s heels are Beach Energy Ltd (ASX: BPT) and Ampol Ltd (ASX: ALD) and Santos Ltd (ASX: STO). These ASX 200 energy shares are up 2.84%, 2.82% and 2.52% respectively. Oil Search Ltd (ASX: OSH), which reported its FY21 earnings this morning, is up 1.62% to $3.76 a share.

So why are ASX 200 energy shares outperforming today?

Well, we don’t have to look too far.

ASX 200 energy shares rise on the back of higher oil prices

A sector-wise rise (or fall) in the commodity space tends to be caused by one thing – a change in commodity prices. And we have seen this price of crude oil rally strongly over the past 24 hours.

As my Fool colleague James gazetted this morning, West Texas Intermediate (WTI) crude oil prices rose by almost 6% overnight (our time) to back over US$65 a barrel. Brent crude was also up to back over US$69 a barrel. Some good news from China in regards to its COVID oubreak, as well as a drop in the strength of the US dollar, were cited as factors here.

It’s this strength in the oil markets that are likely buoying ASX energy shares today. And this seems to have flowed through (no pun intended) to the entire ASX 200 Index this Tuesday.

The post Energy sector leading the ASX 200 shares on Tuesday 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 August 16th 2021

More reading

NIB and Ampol share prices fall, new record for Domino’s. Scott Phillips on Nine’s Late News

Oil Search (ASX:OSH) dividend reinstated following strong first-half results
ASX 200 midday update: Kogan crashes, Nanosonics rockets

Oil Search (ASX:OSH) share price rises on $139m profit for first-half
5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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!