SYDNEY, Jan 23, 2026, 17:55 (AEDT) — Trading has wrapped up for the day.
- Woodside dipped on Friday after rallying sharply the day before.
- Oil staged a late rally Friday after new remarks from Iran, clawing back some losses from Thursday’s slide.
- The ASX is set to reopen Tuesday, just before Woodside releases its quarterly update midweek.
Woodside Energy Group Ltd (WDS.AX) shares fell 0.5% to close at A$24.08 on Friday, after trading in a range from A$23.88 to A$24.25. The S&P/ASX 200 edged higher by 0.13%.
As the long weekend approaches, crude oil is back in the driver’s seat. In Sydney, Woodside continues to be a top choice for local investors, whether they’re buying into oil or offloading their stakes.
Cash trading will pause Monday in observance of Australia Day, per the ASX calendar, with normal sessions back on Tuesday. Woodside plans to release its Q4 report on Jan. 28, according to its investor schedule.
Oil prices edged higher Friday after U.S. President Donald Trump escalated threats against Iran, coupled with a U.S. official’s statement that warships are heading to the Middle East. Brent crude rose about 0.7% to $64.49 a barrel, while WTI climbed 0.7% to $59.78 as of 0522 GMT, Reuters reported.
Crude dropped about 2%, hitting a one-week low the day prior, as Trump backed down from threats targeting Greenland and Iran, easing the risk premium. “There is a deflation of risk premium related to the Greenland debacle and Iran supply risk has also been reduced,” said Ole Hansen, chief commodity analyst at Saxo Bank. Reuters
Supply updates are still coming in hot. Kazakhstan’s Caspian Pipeline Consortium (CPC) is running below capacity. On top of that, insiders say a fire at the huge Tengiz field led the operator to declare force majeure, letting them pause deliveries due to uncontrollable disruptions.
Peers in Australia have been moving. Santos informed investors that production should climb in 2026 with Barossa and Pikka ramping up. The company also noted the first cargo from the restarted Darwin LNG plant is now being loaded.
Woodside runs LNG, pipeline gas, and liquids operations across Australia and abroad, with expansion projects such as Scarborough and the under-construction Louisiana LNG terminal in the U.S., Reuters company data shows.
The setup cuts both ways. A quick fix at Tengiz or easing in Middle East tensions might push crude prices down, and the sector often tracks that move. Investors are jittery about the costs and schedules of big projects — issues that can easily outweigh gains from higher oil prices.
Next week, attention shifts to whether oil holds onto its Friday rebound as Asia steps in. Then, on Jan. 28, Woodside releases its quarterly report, detailing production and sales. Investors will be watching closely for any cost cues that could drive the stock’s next move.
