ASX 200 energy shares ripped 5.1% on Thursday with the S&P/ASX 200 Energy Index (ASX: XEJ) reaching a two-year high.
Five of the largest energy stocks on the market followed suit, soaring to set new multi-year price milestones today.
This followed a spike in oil prices after both Israel and Iran launched fresh missile attacks on energy infrastructure assets.
This pushed the Brent crude oil price 4% higher to US$112 per barrel today.
Iran hit a Qatari facility housing the world's largest LNG export plant, while Israel attacked Iran's South Pars gas field.
Image source: Getty Images
ASX 200 energy shares soar while broader market falls
The benchmark S&P/ASX 200 Index (ASX: XJO) fell 1.65% as investors worried about the possibility of a longer-than-expected war.
An entrenched conflict would keep oil prices high, which would flow through to higher costs across many industries.
The Brent crude oil price has streaked 55% over the past 30 days, with the war effectively shutting down the Strait of Hormuz.
More than 20% of the world's global oil and gas exports, mainly from Iran, Iraq, Qatar, and the UAE, pass through the strait.
Meanwhile, ASX 200 energy shares soared today.
New multi-year highs for energy giants
ASX 200 oil & gas giant Woodside Energy Group Ltd (ASX: WDS) rose 6.6% to a two-and-a-half-year high of $33.65 today.
The Santos Ltd (ASX: STO) share price lifted 3.7% to a 52-week peak of $8.06.
The Ampol Ltd (ASX: ALD) share price reached an 18-month high of $33.65 today.
The Viva Energy Group Ltd (ASX: VEA) share price streaked 18% to a 52-week high of $2.49.
There was no price-sensitive news from Viva Energy today; however, it did announce a date for its AGM — 21 May.
ASX 200 coal share, New Hope Corporation Ltd (ASX: NHC) lifted 5.5% to a two-and-a-half-year high of $5.54.
ASX 200 coal shares have been rising as gas supply disruptions force power plants around the world to switch to coal.
This is pushing up the thermal coal price, with Newcastle futures rising 20% over the past 30 days to US$139.35 per tonne.
This is the highest thermal coal price since November 2024.
What about other energy stocks?
While not reaching new 52-week highs, many other ASX 200 energy shares rose strongly today.
Yancoal Australia Ltd (ASX: YAL) shares lifted 9.7% to an intraday high of $8.25, just short of their new 52-week high of $8.27 set last week.
The Karoon Energy Ltd (ASX: KAR) share price increased 5.2% to an intraday peak of $2.01.
The Beach Energy Ltd (ASX: BPT) share price rose 4.8% to an intraday high of $1.30.
