SYDNEY, Jan 26, 2026, 17:21 AEDT — The market has closed.
- According to the exchange’s trading calendar, the ASX cash market was closed Monday in observance of Australia Day. 1
- Viva Energy’s shares ended Friday at A$2.08, slipping 1.42%. 2
Viva Energy Group Ltd shares return to trading on Tuesday after Australia’s long weekend, as investors await new cues from the fuel retailer before its upcoming update.
Timing is crucial here. The stock reflects two volatile factors: refining margins and consumer demand at pumps and convenience stores, both of which can change rapidly.
Refining margin boils down to one thing: the difference between crude oil prices and what refiners earn selling fuels such as petrol and diesel. The tricky bit? That gap can swing sharply and almost never follows a steady path.
The S&P/ASX 200 ended Friday 0.13% higher, according to data from Investing.com. Investors will likely zero in on sector moves and individual stocks when trading picks up again.
Oil held steady Monday following a gain of more than 2% in the previous session, with Brent trading at $65.81 a barrel and U.S. WTI at $61.01 during early Asian hours, Reuters reported. “Oil prices are being tickled this week” by disruptions in U.S. output and geopolitical factors, said Priyanka Sachdeva, senior market analyst at Phillip Nova. 3
Viva’s position in the middle of the chain makes macro conditions crucial. It buys crude, refines and imports fuels, then sells into a retail and commercial market marked by fierce competition and pricing that often lags.
Viva’s Geelong refinery, one of only two left in Australia, can handle up to 120,000 barrels of oil daily, the company reports. 4
Traders will zero in on refinery performance, volumes, and whether pricing and costs are aligned across retail fuel and convenience when the company updates the market.
Peers are caught in the same cycle. Ampol and other fuel retailers are tracking demand and pump prices closely, but Viva’s integrated setup means margin changes hit its numbers faster.
But the situation can backfire: if crude prices surge without a corresponding rise in product prices, margins could get squeezed. Any hiccup at Geelong would only make things worse.
Viva plans to release its 4Q2025 trading update on Jan. 29, followed by the FY2025 results on Feb. 24, per its investor calendar. These will be the next key events for ASX:VEA after Tuesday’s reopening. 5
