Sydney, February 5, 2026, 17:38 AEDT — The market has closed.
Woodside Energy Group Ltd (ASX: WDS) shares rose 0.23% to close at A$25.90 on Thursday, pushing higher after a 3.1% gain the day before. The stock dipped to A$25.61 earlier but rallied to finish at the session’s peak.
It mattered since the gain happened amid a rocky environment for energy stocks, as crude prices swung on news around U.S.-Iran talks. The upcoming session looks similar: the focus won’t be on company updates but on how oil moves once traders are back.
Australian shares closed a touch weaker, dragged down by miners as commodity prices eased, according to a Reuters report. Energy stocks dropped 1.2% following a dip in oil prices, though Woodside bucked the trend and stayed in positive territory. Jamie Hannah, VanEck Australia’s deputy head of investments and capital markets, called the broader resources decline “short-term volatility,” noting there’s still solid demand for base metals. Indo Premier Sekuritas
Oil drove the market swings. Brent dipped nearly 2% to $68.02 a barrel after the U.S. and Iran agreed to hold talks in Oman this Friday, easing short-term supply worries, Reuters reported. “The oil price has erased part of the geopolitical risk premium,” said Mukesh Sahdev, CEO of energy consultancy XAnalysts, pointing to the added cost traders factor in against disruption. Roughly 20% of global oil passes through the Strait of Hormuz—a key chokepoint that can quickly shift prices when tensions rise. Reuters
In early Sydney trade, energy stocks dipped. Tony Sycamore, market analyst at IG, noted that shares dropped following confirmation of U.S.-Iran nuclear talks scheduled for Friday. Woodside slipped 0.25% to A$25.78 by 3 p.m. AEDT, with Beach Energy and Santos also retreating.
Friday’s headlines only tell part of the story for traders. The U.S. jobs report landing the same day could shake up the dollar. When the greenback gains ground, it usually drags down dollar-priced commodities like crude—even if local stock markets are closed.
The downside for Woodside is straightforward: if crude prices fall as Middle East tensions ease, support in the sector quickly fades. The upside isn’t any clearer — a setback in negotiations could push prices back up, and the stock usually tracks oil price swings closely.
Investors’ focus is shifting beyond the macro landscape to Woodside’s upcoming trigger: its 2025 annual report and investor briefing scheduled for Feb. 24. Before that, the real market litmus test arrives this Friday with the U.S.-Iran meeting in Oman. Oil prices will likely dictate Woodside’s trajectory through week’s end.
