Two S&P/ASX 200 Index (ASX: XJO) energy stocks are pushing higher on Monday, with both hitting fresh highs as momentum builds across the sector.
Strong gains in oil and coal prices are continuing to support the move, with energy shares among the standout performers in 2026.
Let's take a closer look at which stocks are hitting highs right now.
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Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is up 0.97% to $34.37 at the time of writing.
Earlier in the session, the energy giant's shares reached $34.60, marking a multi-year high. The last time the stock traded at these levels was in October 2023.
The rally means Woodside shares are now up approximately 45% in 2026, making them one of the best performers on the ASX 200 this year.
Recent strength in oil prices has been a key driver. Brent crude has surged above US$112 per barrel amid ongoing tensions in the Middle East, tightening supply expectations and lifting sentiment across the sector.
At the same time, Woodside has been returning a large portion of its cash flow to shareholders. Its dividend payout ratio targets 50% to 80% of underlying net profit.
Yancoal Australia Ltd (ASX: YAL)
Yancoal shares are also pushing higher today.
The coal producer's share price is up 3.85% to $8.63, after hitting an intraday high of $8.70 earlier in the session. This marks the highest level for the stock since mid-2017.
Yancoal has now surged approximately 74% in 2026, making it also one of the standout stocks on the ASX 200 this year.
Coal prices have remained firm due to ongoing supply constraints and strong demand, particularly across Asian markets. This has supported earnings expectations across the sector.
The company operates a portfolio of thermal and metallurgical coal assets across New South Wales, Queensland, and Western Australia.
Yancoal has also been returning significant cash to shareholders. In recent periods, it has delivered large dividends supported by strong earnings and cash flow.
What is driving the sector?
Energy stocks have been leading the market in recent weeks, supported by a lift in underlying commodity prices.
Geopolitical tensions, particularly in the Middle East, have pushed oil prices significantly higher. At the same time, supply risks and steady demand have supported coal prices.
This combination has lifted earnings expectations across the energy sector, helping drive share prices higher and improve investor sentiment.
While commodity prices can be volatile, current conditions are providing a clear tailwind, with strong pricing continuing to support recent gains.
