3 ASX 200 energy shares smashing multi-year highs on Friday

Why are ASX 200 energy shares on fire today?

| More on:
Happy man standing in front of an oil rig.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Most ASX 200 shares are having a happy ending to the trading week today 
  • But it's ASX 200 energy shares that are leading the charge 
  • Many energy shares are even hitting new 52-week highs... 

Overall, it’s turning out to be a pretty pleasant day so far and end to the trading week for the S&P/ASX 200 Index (ASX: XJO) this Friday. At the time of writing, the ASX 200 is up a healthy 0.76% at back over 7,200 points. ASX 200 energy shares are one of the sectors experiencing ‘a whole lotta love’ on the markets today.

So let’s see which ones have just smashed their 52-week highs.

3 ASX 200 energy shares smashing new highs today

Santos Ltd (ASX: STO) is our first energy share that is doing rather well today. So far, the Santos share price is up 0.3% at $8.36. But earlier in today’s session, this oil share hit a high of $8.40. That’s a new 52-week high for Santos, putting its 2022 performance at an impressive 26.4%. Santos shares are now up a pleasing 168% over the past five years.

But Santos isn’t the only oil driller that’s shot the moon today. Beach Energy Ltd (ASX: BPT) shares are also powering higher. Beach is currently trading at $1.80 a share, up a healthy 1.4% so far today. But earlier in this Friday’s session, Beach shares climbed as high as $1.82 each. This, as you might guess, is a new high watermark for Beach shares. This energy company is now up 37.4% in 2022 so far, as well as more than 205% over the past five years.

But it’s not just oil stocks that are spending some time in the sun. Another ASX 200 energy share rocketing today is Whitehaven Coal Ltd (ASX: WHC). Whitehaven shares have shot 2.77% higher today so far and are now trading at $5.38 each. Earlier, we saw Whitehaven climb as high as $5.41, which is the company’s new 52-week high. Whitehaven has been an especially lucrative ASX 200 share to own in recent times. It’s now up more than 95% in 2022 alone, and up more than 200% over the past 12 months.

Rising energy prices lift oil and coal shares

So why are all these ASX 200 energy shares hitting new 52-week highs today? Well, as my Fool colleague covered this morning, oil prices pushed decisively higher overnight. WTI crude oil prices were up 2.1% to US$117.67 a barrel, while the Brent crude oil price rose 1.75% to US$118.36 a barrel.

This is obviously good news for the companies that extract and sell oil and energy. Thus, we can probably say that this is the primary reason why we are seeing ASX 200 energy shares rise so decisively today.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
52-Week Highs

3 ASX 200 shares inking new multi-year highs today

Despite the market falling on Thursday, it wasn't a bad day for all ASX 200 shares.

Read more »

Two people climb to the summit and raise their arms in success as the sun rises brightly over the mountains.
52-Week Highs

These ASX 200 shares just cracked new highs today

Let's check which ASX shares have had a particularly good day on the market.

Read more »

Team celebrating corporate success screaming with joy.
52-Week Highs

3 ASX All Ordinaries shares celebrating Friday with new 52-week highs

These three All Ords shares are flying high today...

Read more »

Three children wearing athletic short and singlets stand side by side on a running track wearing medals around their necks and standing with their hands on their hips.
52-Week Highs

3 ASX 200 shares smashing new 52-week highs on Thursday

It's a good day to own these ASX 200 favourites.

Read more »

Three businesspeople leap high with the CBD in the background.
52-Week Highs

3 ASX 200 shares rocking new, multi-year highs on Tuesday

These three ASX 200 shares hit new multi-year highs today...

Read more »

Rocket going up above mountains, symbolising a record high.
52-Week Highs

These 3 ASX All Ordinaries shares hit new 52-week highs on Monday

These three All Ords shares just hit new 52-week highs.

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
52-Week Highs

3 ASX All Ordinaries shares hitting new 52-week highs on Wednesday

All three stocks notched up one-year plus highs in intraday trading today without releasing new price sensitive announcements.

Read more »

two dogs, a golden one and a black one, together carry a stick in their mouths as the run side by side with contented, happy looks on their faces.
52-Week Highs

2 ASX 300 shares rocking new 52-week highs on Monday

These 2 ASX 300 shares have seen new 52-week highs today.

Read more »