<WIRE> Australian Energy Stocks Rise with Oil Prices, Potential for Best Week Since Mid-July

Australian energy stocks, as shown by the .AXEJ index, are ascending as high as 3.8%, setting their sight on their best week since mid-July.

This increase is largely due to the rise of oil prices resulting from escalated military confrontations between Israeli and Hamas forces across the Middle East that have resumed political uncertainty in the region.

Highlighted within this sector is Woodside Energy (ASX:WDS), which has experienced an uptick as much as 4.7% this week.

Alongside it, Santos (ASX:STO) has seen a 3.3% increase.

Should the current gains stand, Origin Energy (ASX:ORG) is also on course to register its best week since February 24.

Beach Energy (ASX:BPT) has also shown a promising development with a rise over 1% this week.

Tracing back to the end of last year, the sub-index has shown an impressive near 3% increase.

Woodside Energy is a major sector company focused on the exploration, development, production and sale of hydrocarbons from natural gas, liquefied natural gas and crude oil in Australia.

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