Sydney, Feb 3, 2026, 17:43 (AEDT) — After-hours
- Woodside shares climbed 0.6% to close at A$25.06, recovering from Monday’s 1.8% drop
- Oil prices dipped again, weighed down by signs of a possible U.S.-Iran détente and a firmer dollar
- Australia’s central bank raised interest rates; Woodside plans to release earnings on Feb. 24
Woodside Energy Group Ltd shares rose 0.6% on Tuesday to close at A$25.06, rebounding from a 1.8% drop the day before. The stock swung between A$24.65 and A$25.16, with about 3.6 million shares changing hands. (Investing.com)
The change is subtle, but the timing matters. Woodside stands at the crossroads of oil, LNG — liquefied natural gas — and Australia’s tightening rate landscape, just before its annual results drop later this month.
The Reserve Bank of Australia increased its cash rate by 25 basis points to 3.85%, marking its first rise in two years. The move responds to inflation projected to remain above target for some time. (Reuters)
Oil prices fell for a second straight day as optimism about a U.S.-Iran thaw eroded the geopolitical risk premium. Brent dropped to about $65.91 a barrel, while U.S. WTI slid to $61.83. Priyanka Sachdeva of Phillip Nova described the volatile swings as “more like sentiment-driven trading,” pointing to Donald Trump’s remarks that Iran was “seriously talking” with Washington and that talks were set to resume Friday in Turkey. (Reuters)
Australian shares edged higher, with the S&P/ASX 200 up 0.89%, driven by a larger number of advancing stocks than decliners, according to data from Investing.com. (Investing.com)
Energy shares didn’t all keep pace with the rally. Santos dipped about 0.4%, ending the day at A$6.75. (Twelve Data)
Woodside’s schedule is quickly stacking up. Its latest quarterly report projects a record 198.8 million barrels of oil equivalent (boe) for 2025, the combined oil and gas metric. For 2026, the company expects between 172 million and 186 million boe, factoring in a planned five-week turnaround on Pluto LNG Train 1 during Q2. By year-end, Scarborough was 94% complete and targets first LNG shipments in Q4 2026. Acting CEO Liz Westcott said the firm is “looking forward to first LNG from Scarborough in the fourth quarter of this year” and set the annual results briefing for Feb. 24. (ASX Announcements)
Traders are questioning whether Tuesday’s bounce can hold if crude prices stay soft. Woodside usually tracks broader macro trends in these cases, but its project execution and cost issues often take center stage.
But leverage works both ways. A prolonged slump in oil or LNG prices would slam earnings and cash flow, putting dividends at risk. On top of that, delays or cost overruns at Scarborough—or surprise shutdowns at Pluto—would deal a serious blow.
Ahead of Wednesday’s trading, attention stays on crude prices, the Australian dollar’s reaction to the RBA decision, and fresh updates from U.S.-Iran negotiations. Woodside has its next big date on Feb. 24, when it plans to publish its annual report and provide updates on guidance, capex, and dividends.
