Woodside Energy leads ASX energy stocks. Oil is rallying on Middle East tensions. Analysts see upside to $36. Viva Energy and Santos also show technical strength.
Alpha Score of 66 reflects moderate overall profile with strong momentum, strong value, weak quality. Based on 3 of 4 signals — score is capped at 90 until remaining data ingests.
Oil prices rose this week after Middle East tensions escalated, putting energy stocks in focus. Woodside Energy (ASX:WDS), Australia's largest oil and gas producer, traded at $29.05 per share on Friday. Wealth Within analysts Filip Tortevski and Pedro Banales see potential for the stock to retest the $36 resistance level, representing significant upside if crude continues to climb.
Woodside carries an Alpha Score of 67/100, a Moderate label, according to AlphaScala's proprietary model.
Viva Energy (ASX:VEA), owner of the Geelong refinery and a key player in Australia's fuel supply chain, traded around $2.31. The analysts noted technical strength in the stock, which could benefit from rising demand for fuel refining and energy security initiatives.
Santos (ASX:STO) traded near $7.62, approaching a critical $8 resistance level. A breakout above that area could signal further upside, particularly if oil prices continue climbing toward levels seen in past geopolitical crises, the analysts said.
A de-escalation in the Middle East would likely pull oil prices lower, reducing the upside for these stocks. Further conflict would push crude higher, the analysts said.
The gradual rise in oil prices gives investors more time to position, Tortevski and Banales said.
Prepared with AlphaScala editorial tooling from the source reporting linked above. Indexable analysis may include a cited Alpha Score value. Publishing checks screen each story before release. Educational coverage, not personalized advice.