Australian Energy Stocks Rise 1.9% Amid US-China Trade Talks on Tariff Ease

Mon 12 May 25, 03:05 AM |

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Highlights:

Oil prices rise as U.S.-China trade talks ease tariff concerns

Woodside Energy gains 1.6%, while Santos rises 2.2%

Sub-index falls 12.3% year-to-date (YTD)

Australian energy stocks, represented by the .AXEJ index, rose by as much as 1.9% to 7,569.3, reaching their highest level since April 4. The upward movement in the index is largely attributed to an increase in oil prices following positive developments in U.S.-China trade talks. The easing of tensions surrounding the tariff dispute between the two economic giants contributed to renewed optimism in the global energy market.

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