Sydney, Feb 19, 2026, 17:30 AEDT — Market’s final bell has rung.
- Shares tied to oil moved higher, buoyed as crude prices climbed again following fresh U.S.-Iran tensions.
- Woodside is due to release its full-year report next week, marking its next scheduled market update.
Woodside Energy Group Ltd jumped 4.5% to finish at A$27.10 on Thursday, outperforming the wider Australian market. Energy names saw gains after crude prices surged. (Investing.com)
Oil prices climbed somewhat in Asian hours, building on a more than 4% surge from the previous session, as market participants factored in the risk that U.S.-Iran tensions might threaten shipping through the Strait of Hormuz. “The prevailing view is that full-scale armed conflict is unlikely,” said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment. He noted the market was taking a “wait-and-see” approach. (Reuters)
Woodside and Santos pushed higher in Sydney, driving energy stocks up through the afternoon. Their gains kept the ASX above water as traders shifted back into the sector, riding the uptick in oil. (ABC News)
The cash market’s closed, so the next thing to watch is if crude prices hang on to those gains once Friday hits. Woodside’s bounce comes just as earnings season wraps up—right when investors are quick to react to any slipups on costs or outlook.
Woodside wrapped up 2025 with 1,882.1 million barrels of oil equivalent (MMboe) in proved (1P) reserves, according to a company filing this week. That figure falls from 1,975.7 MMboe the year before. Proved plus probable (2P) reserves came in at 2,999.5 MMboe. “Our 2025 reserves statement demonstrates the strength and resilience of our portfolio,” Acting CEO Liz Westcott said. (Woodside)
Proved reserves represent what the company figures it can extract with reasonable certainty, given current circumstances. “Probable” barrels are less of a sure thing, though still likely to be tapped. In its filing, Woodside listed 2C contingent resources — discovered volumes not yet considered commercially viable — at 5,795.7 MMboe as of end-2025.
Even so, the biggest driver for near-term price moves could remain external to the company. According to a Reuters analysis this week, oil is trading with a “risk premium” of $7 to $10 a barrel. But markets are still counting on supply through Hormuz staying uninterrupted — something that could change in a hurry. (Reuters)
It’s a double-edged sword for Woodside. Should geopolitical tensions cool, crude prices could quickly retreat—taking Australian energy shares down, too. On the flip side, an escalation would likely push prices up, boosting cash flow for the sector, but also ratcheting up political risk and stirring more volatility.
Woodside’s next big event lands Tuesday: the company will drop its full-year results and hold an investor briefing. Westcott and CFO Graham Tiver are set to run the teleconference, kicking off at 10:00 AEDT. (Woodside)
