ASX 200 energy shares struggled in 2024 amid investor uncertainty and fluctuating commodity prices.
The S&P/ASX 200 Energy Index (ASX: XEJ) slumped dramatically by (18.83%) over the 12 months.
If we add dividends, the picture is slightly better but still negative, with total gross returns of (13.87%).
Energy was the worst-performing sector of 2024 and vastly underperformed the S&P/ASX 200 Index (ASX: XJO). The ASX 200 lifted 7.49% and delivered 11.44% in total gross returns (including dividends).
There are many factors that weighed down the sector last year and continue to do so now.
They include ongoing geopolitical tensions in the Middle East and Russia/Ukraine, as well as the economic slowdown in China, which is the world's biggest importer of crude oil.
Energy commodity prices were volatile in 2024, and most finished the year on a weak note.
Brent crude oil fell by about 1.3%, US gasoline fell by about 4.5%, coal fell by about 5%, and uranium lost about 20%. WTI crude rose by about 2%, natural gas lifted 52%, and TTF and UK gas lifted by about 65%.
While energy was a hard space to be invested in last year, some ASX 200 energy shares managed a positive return. But only a couple.
Here are the 8 best-performing ASX 200 shares by price change in a sector that lost its spark last year.
Image source: Getty Images
Best shares of the ASX energy sector for 2024
1. Yancoal Australia Ltd (ASX: YAL)
ASX coal share Yancoal rose by 31.3% to close out the year at $6.50 per share on 31 December.
2. Deep Yellow Ltd (ASX: DYL)
ASX uranium share Deep Yellow lifted 3.7% to finish the year at $1.13 per share.
3. New Hope Corporation Ltd (ASX: NHC)
Another ASX coal share, New Hope, fell 3.9% in value to close at $4.96 per share on 31 December.
4. Santos Ltd (ASX: STO)
ASX oil share Santos lost 12.1% to finish the year at $6.68 per share.
5. Beach Energy Ltd (ASX: BPT)
Another ASX oil share, Beach Energy, slid 12.5% to close the year at $1.40 per share.
6. Whitehaven Coal Ltd (ASX: WHC)
Stock in the ASX coal miner, Whitehaven, fell 16.7% to finish the year at $6.20 per share.
7. Woodside Energy Group Ltd (ASX: WDS)
The ASX energy sector's biggest share by market cap lost 20.8% in value to close at $24.60.
8. Ampol Ltd (ASX: ALD)
Stock in Australian fuel retailer Ampol fell 22% to finish the year at $28.19 per share.
