Sydney, February 7, 2026, 17:31 AEDT — Closing bell in Sydney.
Woodside Energy Group Ltd (ASX:WDS) slipped 1.6% to finish at A$25.48 on Friday, tracking losses across Australia’s resource stocks. 1
Markets have wrapped for the day. Come Monday, though, the stock faces fresh scrutiny, as crude prices and offshore risk set the tone. Woodside’s New York-listed shares gained 1.7% late, trading at $18.15.
The S&P/ASX 200 slumped 2.0% to 8,708.8 on Friday—a steep drop for an index heavily weighted toward miners and energy stocks. 2
According to Reuters, this was the steepest daily slide in roughly 10 months, hammering energy, tech, and gold stocks—each down around 3%. The ASX volatility index shot up 21%. “Global risk sentiment weakened sharply overnight as investors rotated out of high-multiple and cyclically-exposed sectors,” said Global X ETFs strategist Marc Jocum. (For traders, high-multiple signals expensive shares.) 3
That tone’s been shaped in large part by a tech-driven drop overseas, with investors casting doubt on the pace at which hefty AI investments will show up in profits. Asian stocks followed suit, slipping as well. 4
Oil prices barely budged Friday, with traders keeping an eye on U.S.-Iran negotiations in Oman. Brent still looked set for a weekly drop of 4.3%. “Investors are watching the U.S.-Iran talks, and their sentiment is shaped by the outcome,” said Tamas Varga, oil analyst at PVM. Analysts at Capital Economics pointed out that while geopolitics remain a factor, weakening fundamentals could push prices down to $50 a barrel by the end of 2026. 5
Russia voiced optimism that the U.S.-Iran discussions could yield progress and steer clear of conflict, though both camps remain at odds over the agenda. That uncertainty leaves oil prices and stocks tied to oil—like Woodside—vulnerable to headline swings. 6
Brent hovered near $68 a barrel, posting a 0.7% gain for the day, Reuters pricing showed. Iran-related jitters have kept prices from slipping below $65, Kpler analyst Muyu Xu noted. 7
Woodside’s key story remains tied to its projects and what it’s telling the market. In a quarterly update released late January, the company reported record 2025 output at 198.8 million barrels of oil equivalent—a figure that rolls oil and gas together. Scarborough’s build is now 94% done, with first LNG—gas chilled down to ship—still on schedule for the fourth quarter of 2026. But Acting CEO Liz Westcott told investors, “We are looking forward to first LNG from Scarborough in the fourth quarter of this year.” 8
Santos shares lost 1.4% to close at A$6.89 on Friday, while Beach Energy slid 4.6%, finishing at A$1.145. 9
Still, what happens next for Woodside’s share price might hinge on forces far from Perth. A drop in crude or another risk-off jolt could weigh on the whole sector; if Middle East tensions spike, oil could catch a bid. On top of that, investors are looking for clarity on spending plans and returns as Woodside changes CEOs. The 2025 annual report and investor briefing are set for Feb. 24. 10
