Woodside Energy jumps 3% as crude prices tick up
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The news: Shares in oil giant Woodside Energy surged today, capping a strong weekly performance for the stock as benchmark crude priced lifted.
The numbers: Woodside shares were up 3.5% to $26.14 at 1:10pm AEST. The rally helped lift the energy sector up 1.3% as the wider market fell 0.4%.
Global benchmark Brent crude was up 0.5% to USD68.69 per barrel, while US West Texas Intermediate also rose 0.5% to USD66.39.
The context: The stock has seen steady gains this week after the oil and gas producer's second quarter production update broadly met market forecasts.
Crude benchmarks rose for a second day, boosted by tightness in diesel markets and optimism over US trade talks ahead of President Donald Trump's looming 1 August tariff deadline.
The source: Bloomberg
