Ampol Ltd (ASX: ALD) shares have climbed around another 0.5% to a fresh two-year high of $38.08 in Tuesday trade.

At one point this morning, the petroleum company’s shares were trading as high as $38.33.

Today’s increase means the shares are now up 19% for the year to date, and have rallied 40% higher over the past 12 months.

What has pushed Ampol shares to a multi-year high?

Ampol’s shares have been driven higher by a combination of volatile global oil supply and company growth, including improved production and profit.

The company is Australia’s largest transport energy distributor and retailer, with more than 1,800 Ampol-branded service stations across the country. 

Unsurprisingly, its shares have rocketed higher on the back of conflict in the Middle East and concerns about global oil supply.

Ampol shares have jumped 37% higher since the war between the US and Iran ramped up in late February.

The shares suffered a temporary lull towards the back end of June when it looked like the two nations had reached a peace deal. Even so, the ceasefire was unstable, and even though the Strait of Hormuz partially reopened, supply continued to be very constrained and unpredictable. 

But Ampol shares rocketed higher again this morning as the peace talks fell apart in early July and the region descended into war again.

According to Trading Economics, the price of WTI crude oil has also surged higher this month, and is trading over the US$83 per barrel mark at the time of writing. 

There is still some way to go before the price returns to the US$113 per barrel level seen in April, but it is still significantly higher than the US$60 per barrel levels seen earlier this year.

Prices for Brent oil, gasoline, heating oil, and Ethanol have also jumped higher over the past month.

It’s not only oil supply and prices supporting this year’s share price rise.

Ampol has also posted a few updates that have gathered investor attention. In June, Ampol received the green light, with conditions, from the Australian Competition and Consumer Commission (ACCC) for a proposed acquisition of fuel and convenience store operator EG Australia. 

The company previously confirmed a 10% increase in refinery production, higher refiner margins, and increased production in its Q1 FY26 trading update.

What are brokers tipping for Ampol shares next?

It looks like we could see some more upside for Ampol shares over the next 12 months.

Market Index data shows that the majority of brokers have a buy rating on the shares. The $38.75 target price currently implies a potential 2% upside.

TradingView data shows something similar. Out of 10 analysts, eight have a buy or strong buy rating on the stock. One more rates Ampol shares as a hold and one as a sell.

The average $38.29 target price implies a potential 1% upside over the next 12 months, at the time of writing. Whereas, the maximum $46.50 target price implies the shares have the potential to surge another 23%.

The post Ampol shares rallied 40% to hit fresh 2-year high. Buy, sell or hold? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.

Yancoal Australia Ltd (ASX: YAL) shares are charging higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) coal stock closed yesterday trading for $5.68. At the time of writing, shares are changing hands for $5.96 apiece, up 4.9%.

For some context, the ASX 200 is down 0.4% at this same time.

Yancoal shares have been strong performers in 2026, up 20.2% since market close on 31 December. That compares favourably to the more modest 0.5% gain posted by the ASX 200 over this same period.

And that’s not including the 12.2 cents per share fully-franked dividend Yancoal paid eligible stockholders on 15 April.

The ASX 200 coal stock trades on a fully-franked trailing dividend yield of 3.1%.

But following these strong share price gains, is the coal miner still a buy today?

Yancoal shares: Buy, hold, or sell?

Investor Pulse’s Mark Elzayed recently analysed the outlook for the resurgent coal miner (courtesy of The Bull).

“Yancoal is balancing strong fundamentals against a near term overhang,” he said.

Elzayed elaborated:

In April, YAL announced it would acquire 80% of the Kestrel metallurgical coal mine in the Bowen Basin for US$2.4 billion. The acquisition is accretive over the long term, but adds leverage.

Summarising his hold recommendation on Yancoal shares, Elzayed concluded:

Diesel cost inflation threatens to push 2026 unit costs toward the top end of its guidance range. Consensus targets of about $7.02 on July 15 imply upside, but integration and coal price risks argue for holding the stock rather than adding.

What’s the latest from the ASX 200 coal stock?

Yancoal reported its second-quarter (Q2 2026) results after market close on Monday.

Highlights for the three months to 30 June included a 20% quarter on quarter lift in attributable saleable coal production to 10.8 million tonnes. That presents a new quarterly production record.

The Yancoal share price also looks to be getting a lift today, with the company reporting that the average prices it received for most of its seaborne thermal coal increased by 14% to 19% over the quarter.

As for the rising diesel costs that Elzayed mentioned above, Yancoal noted:

While diesel price pressure has eased compared to early 2Q, some price uncertainty remains. We are still incurring higher prices, but the outlook for the overall impact on our 2026 operating costs has moderated.

Commenting on the company’s recent US$2.4 billion acquisition, Yancoal CEO Sharif Burra said:

In April, we announced the acquisition of an 80% interest in the Kestrel Coal Mine. Adding a large, long-life asset that produces hard-coking coal at strong margins is a compelling step forward in Yancoal’s growth strategy.

The post Up 20%, are Yancoal shares still a good buy right now? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bernd Struben 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.

DroneShield Ltd (ASX: DRO) shares are up around 0.5% in Tuesday morning trade, at $2.17 a piece.

The increase is good news for investors, but it’s been a volatile ride for the ASX defence stock this year.

DroneShield shares have fluctuated anywhere between $4.74 in January and a low of $2.14 late last week. At the current trading price, the stock is down 35% year to date and 54% from its January 2026 peak.

The shares are also now 41% below trading levels this time last year.

What happened to DroneShield shares in the first half of 2026?

There has been a turnaround in sentiment around DroneShield shares over the past few months.

After a strong start to the year, supported by higher global defence budgets and geopolitical volatility following conflict in the Middle East, the share price started falling. Investors flocked to defence-related shares when governments around the world hiked their defence budgets and geopolitical risk worsened. 

After a peak in late-March, it looks like investors started turning their back on the stock and a sell-off accelerated into May and again in June.

A combination of recent governance and regulatory issues and the cooling of conflict in the Middle East dragged DroneShield shares down.

And surprisingly, reignited conflict in the region hasn’t done anything to support investor interest in the defence technology company.

It looks like, now, investors are concerned that the company’s future growth may not be large enough to justify its share price. 

Is the ASX defence stock a buy, sell, or hold?

I think sentiment around DroneShield shares is finally cooling. I think we could see some more downside over the next few weeks ahead of the company’s half-year FY26 financial results announcement in mid August.

It looks like analysts are sharply divided about DroneShield shares, too.

TradingView data shows that out of four analysts, two have a strong buy rating, and two have a sell or strong sell rating.

The average $3.22 target price still implies a potential 48% upside at the time of writing. The maximum $4.80 target price implies that DroneShield shares could leap another 120%. 

Meanwhile, some are more bearish, tipping the shares to fall 6% from the current trading price, to $2.05 a piece. 

Canaccord Genuity is one analyst with a bullish view on the shares. It renewed its buy rating on Droneshield shares earlier this month, with a 12-month price target of $3.75.

The post Down 41%: Can DroneShield shares bounce back, or is the rally finally over? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. 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.