Woodside crowns upbeat day for energy; uranium rallies

The energy sector rallied on Tuesday as Woodside Energy reported its first interim profit result since merging with BHP petroleum, which delivered investors a better-than-expected dividend.

Crude oil jumped to $US105 a barrel on Monday night as renewed conflict broke out in Libya interfering with its output, and a willingness by Saudi Arabia to consider production cuts. Brent crude hit $US105.09 a barrel for a gain of 4.1 per cent in the session and West Texas Intermediate $US97.01 a barrel, up 4.2 per cent.

By the afternoon, Brent crude futures for October were down 0.6 per cent to $US104.42 a barrel and West Texas Intermediate was down 0.3 per cent to $US96.76 a barrel.

Woodside Energy’s underlying interim profit jumped to $US1.82 billion ($2.6 billion), beating analyst forecasts, and its shares added 1.5 per cent to $35.87. Revenue rose to $US5.81 billion from $US2.5 billion in the year-earlier period. It will pay […]

Click here to view original web page at www.afr.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.