Highlights

  • Karoon Energy, Beach Energy and Ampol were the top ASX 200 energy decliners on 10 March, with losses ranging from 4% to 7.5%.
  • The S&P/ASX 200 Energy sector fell 3.22%, making it the worst-performing sector during the session.
  • The decline occurred despite the ASX 200 index rising 1.09% to 8,692.60, highlighting sector-specific selling.

 

Energy shares on the S&P/ASX 200 (INDEXASX: XJO) moved lower on 10 March, even as the broader market traded higher. At the time of writing, the energy sector had dropped 3.22%, making it the weakest performing sector of the session.

The wider ASX 200 index was up 93.60 points, or 1.09%, to 8,692.60, indicating that the sell-off was concentrated within energy stocks rather than across the entire market.

The decline follows reports that US President Donald Trump signalled that the Iran war could end soon, a development that weighed on energy sentiment and triggered declines across several oil and fuel-related companies.

Karoon Energy shares fall the most among energy peers

Karoon Energy Ltd (ASX:KAR) recorded the largest drop among the ASX 200 energy stocks during the session.

The company’s shares fell AUD $0.150, or 7.50%, to AUD $1.850.

The company recently reported 2025 underlying net profit after tax (NPAT) of US$107.5 million, while statutory NPAT came in at US$125.5 million. The result was influenced by lower realised oil prices and fewer cargo sales from the Baúna project.

Karoon also declared a final dividend of 3.1 Australian cents per share, taking total dividends for 2025 to 5.5 cents per share, equivalent to 25% of underlying NPAT.

Key Financial Metrics – Karoon Energy

  • Share price: AUD $1.850
  • Daily change: −7.50%
  • 2025 underlying NPAT: US$107.5 million
  • Statutory NPAT: US$125.5 million
  • Total 2025 dividend: 5.5 cents per share

Beach Energy shares decline amid sector weakness

Beach Energy Ltd (ASX:BPT) was another major decliner within the energy sector.

The stock dropped AUD $0.055, or 4.72%, to AUD $1.110 during the trading session.

The company previously reported half-year sales revenue of AUD $982 million, supported by four Waitsia LNG cargoes that contributed AUD $233 million.

Beach Energy also posted underlying EBITDA of AUD $558 million and underlying NPAT of AUD $219 million for the period.

Key Financial Metrics – Beach Energy

  • Share price: AUD $1.110
  • Daily change: −4.72%
  • Half-year revenue: AUD $982 million
  • Underlying EBITDA: AUD $558 million
  • Underlying NPAT: AUD $219 million

Ampol shares also move lower

Fuel supplier Ampol Ltd (ASX:ALD) also appeared among the top energy sector decliners on the ASX 200.

The company’s shares fell AUD $1.385, or 4.42%, to AUD $29.965 during the session.

Ampol recently reported FY2025 replacement cost operating profit (RCOP) EBITDA of AUD $1.44 billion and RCOP net profit after tax of AUD $429 million.

The company declared a final dividend of 60 cents per share, bringing the total FY2025 ordinary dividend to AUD $1.00 per share, fully franked.

Key Financial Metrics – Ampol

  • Share price: AUD $29.965
  • Daily change: −4.42%
  • FY2025 RCOP EBITDA: AUD $1.44 billion
  • FY2025 RCOP NPAT: AUD $429 million
  • Total FY2025 dividend: AUD $1.00 per share

Energy sector still up over the past month

Despite the declines recorded on 10 March, the ASX 200 energy sector has gained nearly 9% over the past month. Energy stocks had previously benefited from movements in oil markets and global supply concerns before the latest session’s pullback.

Energy shares on the ASX 200 moved lower during the latest trading session, with Karoon Energy, Beach Energy and Ampol leading the sector’s declines. The energy sector fell 3.22%, even as the broader ASX 200 index advanced, highlighting the divergence between energy stocks and the overall market performance.

 

FAQs

  1. Why did ASX energy stocks fall on 10 March?
    Energy stocks declined after comments from US President Donald Trump indicating that the Iran war could end soon, which weighed on oil-related companies.
  2. Which ASX energy stock recorded the biggest drop?
    Karoon Energy posted the largest decline, falling 7.50% during the session.
  3. How did the broader ASX 200 perform during the session?
    The S&P/ASX 200 index rose 1.09% to 8,692.60, despite the energy sector falling.