Viva Energy Group Ltd (ASX: VEA) shares are pushing higher on Monday.
In mid-afternoon trade, the Viva Energy share price is up 3.19% to $2.59. That is comfortably outperforming the S&P/ASX 200 Index (ASX: XJO), which has opened lower as oil prices jumped following the collapse of US-Iran talks over the weekend.
The gain extends Viva Energy’s strong 2026 run, with the stock now up about 26% year to date.
The move appears to reflect both stronger crude prices and a company-specific accounting update. While negative on the surface, the issue looks manageable against the size of the business.
Let’s dive right in.
Oil surge gives refiners and fuel retailers a lift
A key driver today is the rebound across ASX energy stocks. That follows brent crude pushing back above US$101 a barrel amid renewed geopolitical tensions in the Middle East.
The move has lifted refiners and downstream fuel businesses, with Viva among the sector’s stronger performers in Monday trade.
That makes sense given Viva’s exposure across refining, wholesale fuel supply, and its national convenience and fuel retail network.
Higher energy prices, such as natural gas, are also giving the sector an extra lift.
Earlier in the session, Viva was among the ASX 200’s better performers, rising about 6.5% before easing back toward its current gain.
ASIC review adds a $25 million impairment hit
Separately, The Australian reported that Viva will take an additional $25 million impairment charge tied to the way some of its petrol station assets were valued.
According to the report, ASIC challenged the company’s previous approach of grouping certain convenience retail sites together for impairment testing instead of assessing them individually.
The revised treatment increases Viva’s total retail site impairment charge for the 2025 financial year.
With a market capitalisation of roughly $4.25 billion and a network of about 900 stores and 1,300 service stations nationally, the adjustment is unlikely to worry investors too much.
Instead, the market may be treating it as an accounting clean-up rather than anything linked to underlying trading.
Foolish Takeaway
Today’s gain in Viva Energy shares appears to be driven more by the oil rebound and stronger sector sentiment than the ASIC charge.
The extra $25 million write-down is not ideal. Even so, investors seem more focused on firmer oil prices and earnings support.
With the shares already up 26% this year, the next key drivers are likely to be oil prices, refining spreads, and fuel demand.
The post Oil is surging and this ASX fuel stock is one of Monday’s winners appeared first on The Motley Fool Australia.
Should you invest $1,000 in Viva Energy Group Limited right now?
Before you buy Viva Energy Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Viva Energy Group Limited wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- ASX 200 energy shares whipsaw amid fragile ceasefire
- ASX shares to watch as oil price crashes
- These were the best-performing ASX 200 shares in March
- 4 ASX 200 energy shares rated buys
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Aaron Teboneras 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.