How did the Santos share price perform in FY22?

The Santos Ltd (ASX: STO) share price had a turbulent year in FY22 and managed to finish in the green.

Investors rallied behind commodity giants like Santos, particularly as the new year rolled around. On the last trading day of June, Santos shares were trading at $7.42 apiece.

The company’s share price has taken a tumble since then. It’s down 5.88% so far today at $7.04.

In broader market moves today, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is also down 5.42% on the back of falling commodity prices.

Santos compounds upward in FY22

The big story behind moves in the Santos share price is the tremendous rally in oil and gas markets that have ensued since the pandemic.

In the 12 months of FY22, Brent Crude oil surged more than 45% to trade at US$109 per barrel on June 30.

It nudged past US$123 per barrel back in March 2022, its highest level since 2014.

Meanwhile, natural gas posted triple-digit returns in FY22 amid extreme volatility, particularly in European gas contracts.

These moves are plotted against the Santos share price below.

The oil and gas trade was certainly active this past financial year with momentum picking up from February amid tensions in Europe.

The bullish momentum in these commodity markets provided the perfect underlying conditions for the Santos share price to rally back near its pre-pandemic high.

It topped $8.53 before entering a consolidation phase and levelling off toward the end of June.

As such, the Santos share price had a successful FY22, rewarding shareholders in the process. It gained around 4% in that time.

The post How did the Santos share price perform in FY22? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• How is the oil price plunge impacting ASX 200 oil shares today?
• Leaking oil price sends Santos shares into the red
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump
• Santos and Woodside on watch after oil prices crash 10%
• 2 bargain ASX shares with good times ahead: expert

Motley Fool contributor Zach Bristow 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.

from The Motley Fool Australia https://ift.tt/Hdsjq6I