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Today is a rather big day for more than a few dividend investors. That’s because we have a plethora of ASX shares that are scheduled to trade ex-dividend tomorrow. And that means that if you want the dividends from those companies to arrive in your bank account, rather than someone else’s, today is the last day you can buy the shares with that benefit attached. Remember, companies going ex-dividend will normally see a share price drop on their ex-div date.

So here are 5 such ASX dividend shares that are scheduled to trade ex-dividend tomorrow.

5 ASX dividend shares going ex-dividend tomorrow

South32 Ltd (ASX: S32)

Mining company South32 is about to cut off access to its upcoming interim dividend. The diversified miner will be paying out a fully franked dividend worth 8.7 US cents (AUD value to be determined) on 7 April.

Rio Tinto Limited (ASX: RIO)

Rio is another mining giant that is set to trade ex-div tomorrow. In this iron ore giant’s case, we know that investors will receive $6.6284 in fully franked dividends per share on 21 April. That’s the largest interim dividend Rio has ever paid.

G8 Education Ltd (ASX: GEM)

A company in a slightly different sector, G8 Education shares will also be going ex-dividend tomorrow. Investors can look forward to a fully franked payment of 3 cents per share on 1 April (no April Fool’s here). But get in quick if that takes your fancy.

Michael Hill International Ltd (ASX: MHJ)

Jewellery company Michael hill is next up. Michael Hill shares are also fast closing the window to receive this company’s upcoming dividend. The jeweller will be forking out 3.5 cents per share, this one unfranked, later this month on 25 March.

Regis Healthcare Ltd (ASX: REG)

Regis is last on our list, but not necessarily least. Investors who own the shares before tomorrow can expect to receive a partially franked at 50% dividend of 3.52 cents per share on 8 April next month.

The post Want the dividends from these 5 ASX shares? You’d better be quick! appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Tuesday
• Here’s why the South32 (ASX:S32) share price has soared 25% in a month
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Own Rio Tinto (ASX:RIO) shares? Here’s why the miner has been hit with a $750,000 fine
• Why is the Fortescue (ASX:FMG) share price having such a stellar start to the week?

Motley Fool contributor Sebastian Bowen 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 Bruce Jackson.

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ASX shares are enjoying a rather pleasant Wednesday so far after the nasty selloffs we saw earlier in the week. At the time of writing, the All Ordinaries Index (ASX: XAO) is up a healthy 0.92% at just over 7,300 points. But that’s nothing compared to the Boss Energy Ltd (ASX: BOE) share price.

At the time of writing, Boss shares are currently up by a very pleasing 11.9% at $2.54 each. That’s a pretty convincing trounce of the broader market. So what’s going on with this ASX uranium share today?

Well, it’s not the result of anything the company itself has said, so rule that one out.

Instead, this dramatic share price jump could be the result of some news that came out yesterday from S&P Global. S&P Global is the company responsible for running major share market indexes around the world. Two of those happen to be the All Ords and the ASX 200 – the flagship indexes for the ASX share market.

Boss Energy share price rises amid All Ords entry ticket

Last week, S&P announced that Boss Energy would be in amongst dozens of companies that will join the All Ordinaries Index as of March 21. This is part of S&P’s quarterly index rebalancing. Indexes like the All Ords reflect the largest ASX shares by market capitalisation. In the All Ords’ case, it consists of 500 ASX shares. But market caps move around all the time (in line with share prices), so a list of the ASX’s ‘largest 500 shares’ is ever-changing.

Well, Boss makes the cut this time around. Thus, it will soon be a proud card-carrying member of the All Ords. This can have large benefits for a company since many managed funds or index funds can only select All Ords shares as part of their mandates. This might be why we are seeing renewed interest in Boss shares today, perhaps helped by the market being back in the green today.

But, as my Fool colleague Brooke covered yesterday, a government announcement of the construction of a new nuclear submarine base could also be assisting. This has no direct impact on Boss Energy at this stage. But, as covered yesterday, it’s possible that an announcement of this kind shifts attention to uranium shares like Boss.

Whatever the reasons for Boss shares’ stellar performance today, it has no doubt pleased many shareholders.

At the current Boss Energy share price, this ASX uranium share has a market capitalisation of $722 million.

The post What a Boss! Why the Boss Energy (ASX:BOE) share price is soaring 13% today appeared first on The Motley Fool Australia.

More reading

• Why did the Race Oncology (ASX:RAC) share price drop 10% today?
• Why these 2 ASX uranium shares could be set for a boost this month
• Why is the Boss Energy (ASX:BOE) share price crashing 17% today?
• ASX uranium shares plummet amid Ukraine power station attack
• Black gold! 3 ASX energy shares pumping new 52-week highs today

Motley Fool contributor Sebastian Bowen 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 Bruce Jackson.

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The Aussie Broadband Ltd (ASX: ABB) share price is climbing during Wednesday mid-afternoon. This follows the broadband company’s announcement that a number of co-founders and directors have offloaded their shares. 

At the time of writing, Aussie Broadband shares are up 3.09% to $5.01.

Director sale of shares

In a statement to the ASX, Aussie Broadband revealed a number of its co-founders and directors, Phillip Britt, John Reisinger and Patrick Greene, have each sold a portion of their shares.

Executive director and managing director Britt dispensed 2 million Aussie Broadband shares through an on-market trade at $4.95 apiece.

Britt still has almost 16,000 ordinary Aussie Broadband shares, along with approximately 1.17 million options.

In addition, executive director and chief technology officer Reisinger also sold 2 million Aussie Broadband shares via an on-market trade at $4.95.

He has around 15.95 million ordinary Aussie Broadband shares and roughly 282,000 options.

Both transactions equate to a value of $9.9 million and represent 11.1% of Britt’s and Reisinger’s shareholdings.

Lastly, non-executive director Greene offloaded a slightly lower number of shares compared to the other two directors. He sold about 1.91 million Aussie Broadband shares through an on-market trade at $4.95, which is 15.7% of his holdings.

Following the divestment, Greene owns 10.24 million ordinary Aussie Broadband shares.

The reason given for each of the directors selling their shares was to “fund tax and personal obligations”.

All of the shares sold were acquired by Australian institutional investors.

Aussie Broadband share price snapshot

Over the past 12 months, the Aussie Broadband share price has surged almost 80%, with year-to-date gains above 6%.

The company’s share price has been moving along an upwards trajectory since 2020.

Aussie Broadband has a price-to-earnings (P/E) ratio of 46.82 and commands a market capitalisation of roughly $1.12 billion.

The post Aussie Broadband (ASX:ABB) share price advances amid directors offloading shares appeared first on The Motley Fool Australia.

More reading

• Aussie Broadband (ASX:ABB) share price rises on 46% revenue surge

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. owns and has recommended Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has returned to form and is racing higher. At the time of writing, the benchmark index is up 0.9% to 7,043.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up 3% to 32.5 cents. This morning the lithium developer released its second update on its Rincon project in Argentina in as many days. Yesterday it revealed that it has completed the brine systems work, whereas today it has taken delivery of German manufactured dryer/evaporator and vibrator equipment. This is the third update of its kind this month.

Block Inc (ASX: SQ2)

The Block share price is up 5% to $140.53. This follows a positive day of trade in the tech sector after a solid night on the tech focused Nasdaq index. It isn’t just Block’s shares that are rising today. The S&P ASX All Technology index is up by 2% at the time of writing.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 6% to 93.5 cents. This morning the lithium developer released an update on its drilling activities at the Carlton deposit of the Finniss Lithium Project near Darwin. The release notes that eight of the nine holes intersected spodumene bearing pegmatite mineralisation. Management expects this to underpin an upgrade to the mineral resource of the project.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price is up 3.5% to $47.45. Investors have been buying this mining and mining services company’s shares following a positive broker note out of Citi. According to the note, the broker has upgraded the company’s shares to a buy rating with a $58.00 price target. This follows an upgrade to Citi’s near term commodity price forecasts.

The post Why Argosy Minerals, Block, Core Lithium, and Mineral Resources are storming higher appeared first on The Motley Fool Australia.

More reading

• What’s the difference between lithium hydroxide and spodumene and which ASX shares are involved with each one?
• Here’s why the Core Lithium (ASX:CXO) share price is shooting 9% higher today
• Up 250% in a year, why the Argosy Minerals (ASX:AGY) share price is charging higher today
• Glitch! Why are ASX tech shares getting hammered on Monday?
• Why Block, GQG, Qantas, and Unibail-Rodamco-Westfield are sinking today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher today as its CEO talks at the AFR‘s Business Summit.

On day one of the news outlet’s flagship event, discussions among a panel of high-profile CEOs have turned towards sustainability. Specifically, the green transition has been brought into focus amid skyrocketing energy prices.

ASX-listed CBA wants to fuel the transition

Firstly, shares in CBA are trading at the highest price-to-earnings (P/E) ratio premium out of the big four banks. Currently, the largest bank in Australia commands a P/E of 17.8 times.

Meanwhile, the other three major banks are fetching a multiple between 12 to 16 times. Given this, it might not come as a surprise that CBA’s CEO Matt Comyn is on the lookout for future growth drivers.

At the summit, Comyn has pointed out the ‘green transition’ as one such opportunity for the bank. Outlining the role Comyn sees CBA playing, the executive said:

We see increasing demand for sustainability-linked loans. We would love to be able to work with other large corporations… it’s not just about the carbon impact, but also what are the socio-economic impacts. How do we look at what is the most important transition… and then of course, we see a lot of opportunity around carbon credits.

In recent months, ASX-listed CBA has announced several ‘green’ loans and finance solutions. One example of this is the bank’s $50 million green repurchase agreement with Northern Trust. The funds can be put towards backing wind farms, solar farms, etc.

Commonwealth Bank share price snapshot

The past year has been a relatively rewarding one for CBA shareholders. While the S&P/ASX 200 Index (ASX: XJO) has returned a little more than 4% during the 12-month timespan, the major bank has done better.

To be precise, CBA has returned 11.1% on the ASX over the past year.

Additionally, the solid performance makes it the best performing bank out of the big four.

The post CBA (ASX:CBA) boss says this presents ‘a lot of opportunity’ for the bank appeared first on The Motley Fool Australia.

More reading

• ANZ has the largest ASX big four bank dividend yield right now. What?
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Analysts name 2 ASX 200 dividend giants to buy in March
• 3 reasons why Soul Pattinson (ASX:SOL) is a strong ASX dividend share idea
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor Mitchell Lawler owns Commonwealth Bank of Australia. 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 Bruce Jackson.

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Most ASX investors would know by now that ASX lithium stocks have been all the rage on the Australian share market for a while now. Fuelled by hopes of lithium being a key ingredient in a green, clean future, investors have been very excited to try and get themselves a piece of any profits. 

And we’ve certainly seen a response in the share prices of some of the ASX’s most prominent lithium stocks. For example, the Pilbara Minerals Ltd (ASX: PLS) share price remains up an incredible 198% or so over the past 12 months. That’s even after the company’s 20% or so fall so far in 2022. 

But most investors would be familiar with the term ‘lithium stocks’. Or perhaps the names of prominent ASX lithium shares like Pilbara. It’s far less likely though that mentioning phrases like ‘lithium spodumene’ or ‘lithium hydroxide’ elicit too much more than glazed eyes for many investors.

And yet these terms are very important in understanding the value of any lithium producer. So let’s dive in and examine what these terms mean.

Like most metals, lithium cannot be dug out of the ground and put in a battery. Instead, producers extract lithium-infused compounds and ores. They then refine them to produce industry-ready, high-grade lithium.

Spodumene and hydroxide: What does it mean for ASX lithium stocks?

According to a report in the Australian Financial Review (AFR), there are two types of lithium concentrates that can be used for batteries. They are spodumene and hydroxide. Of these two, hydroxide is reportedly harder to produce. But it “commands much higher prices as battery manufacturers prefer it”. In contrast, spodumene concentrate usually only contains around 6% lithium. Thus, it needs to be heavily refined before the lithium inside it can be used.

The ASX’s largest lithium player, Pilbara, already has one of the world’s largest spodumene concentrate processing plants. As well as some of the largest hard-rock lithium deposits. But it also has a joint venture with a South Korean company Posco to refine 43,000 tonnes of lithium hydroxide annually. 

Minerals Resources Ltd (ASX: MIN) is also a player in the lithium space. It is no doubt looking forward to the completion of its lithium hydroxide refinery next year, which it owns a 40% share of. 

Liontown Resources Ltd (ASX: LTR) caused a stir earlier this year after signing a spodumene supply deal with the US electric vehicle and battery company Tesla Inc (NASDAQ: TSLA). 

Even Wesfarmers Ltd (ASX: WES) owns the Mt Holland mine in Western Australia. It is aiming to produce and refine lithium hydroxide by 2024. 

So there is certainly a lot going on in the ASX lithium space. No doubt this emerging industry will continue to hold the spotlight in the years ahead.    

The post What’s the difference between lithium hydroxide and spodumene and which ASX shares are involved with each one? appeared first on The Motley Fool Australia.

More reading

• Broker names 3 of the best ASX 200 shares to buy in March
• Could Wesfarmers (ASX:WES) be gearing up for an electrifying investment?
• Why the Pilbara (ASX:PLS) share price is a buy right now: expert
• Here are the 3 most heavily traded ASX 200 shares this Thursday
• How did ASX lithium shares perform in February?

Motley Fool contributor Sebastian Bowen owns Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. The Motley Fool Australia owns and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The All Ordinaries Index (ASX: XAO) is enjoying a welcome reprieve from the recent wave of selling, up nearly 1% in afternoon trade.

And two ASX gold shares are doing some of the heavy lifting.

The Gold Road Resources Ltd (ASX: GOR) share price is up 8.04%. That’s up there with the best intraday performance, at the time of writing, of any S&P/ASX 200 Index (ASX: XJO) shares today.

Gold Road closed yesterday at $1.68 per share and is currently trading for $1.81 per share.

Rival ASX gold share, Resolute Mining Limited (ASX: RSG), is also shining brightly. Resolute closed yesterday at 31 cents and is currently trading for 32 cents, up 4.1%.

On a broader level, ASX gold shares are slightly outperforming the benchmark this morning, with the S&P/ASX All Ordinaries Gold Index (ASX: XGD) up 1.58%.

Why are ASX gold shares outperforming today?

The big tailwind driving ASX gold shares higher is, as you’d expect, the soaring gold price.

While gold retraced slightly overnight, an ounce of bullion is still trading for US$2,040 (AU$2,793).

That’s right about near the all-time highs reached on 7 August 2020. And it’s up from US$1,826 per ounce just one month ago, a gain of 12%.

Gold is classically viewed as a haven asset. And indeed, the yellow metal first saw demand surge as investors sought an inflation hedge. Gold’s bull run was then spurred onwards by Russia’s invasion of Ukraine.

While that’s put a lot of pressure on share markets, it’s gone the other way for gold, and most ASX gold shares.

“The stock market is in a messy situation right now. You are going to continue to see selling pressure and that is also bullish for the metal,” said Jim Wyckoff, senior analyst at Kitco Metals (courtesy of Reuters).

And should Russia’s war in Ukraine escalate, it could see gold march higher still.

Shortly before gold topped US$2,000, Carsten Menke, analyst at Julius Baer, said:

The severity of the war in Ukraine and the uncertainty around its future trajectory have fuelled broad-based gold buying from safe-haven seekers, pushing prices towards $2,000 per ounce.

A further escalation would likely lift prices further. The latter would likely have a more lasting impact, as it could push the world economy towards a stagflation scenario, which we see as very bullish for gold.

But as mentioned up top, it’s not just the Russian invasion of Ukraine supporting higher gold prices and ASX gold shares. Investors are well aware that long-dormant inflation looks to be awakening. Quickly.

According to David Meger, director of metals trading at High Ridge Futures (quoted by Reuters):

The combination of roaring energy prices, grain prices, base metal prices is culminated in dramatic inflationary pressures that continue to be the major underlying support behind gold moves higher.

How have these 2 gold producers been performing?

With gold prices within a whisker of breaking into new highs, many ASX gold shares have been making hay.

Resolute Mining, however, has not been among those. Despite today’s lift and the rocketing gold price, the Resolute share price is down 1.6% over the past month. That’s in a month that saw the ASX Gold Index shoot up 20.95%.

Gold Road Resources, on the other hand, outperformed even this lofty benchmark.

The ASX 200 gold share is up 28.93% since the closing bell on 9 February.

The post Why these 2 ASX gold shares are charging higher today appeared first on The Motley Fool Australia.

More reading

• Top broker says this ASX share will surge another 17% amid soaring gold prices
• 3 ASX gold shares rocking new 52-week highs today
• Leading brokers name 3 ASX shares to buy today

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 Bruce Jackson.

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The Air New Zealand Ltd (ASX: AIZ) share price has been under pressure in the past month.

The company’s shares have shed almost 16% in a month and are currently trading at $1.30 each, up 0.39% on the day so far. In comparison, the S&P/ASX 200 Index (ASX: XJO) has lost around 1.7% in the past month.

Let’s take a look at what is happening at this ASX airline.

What’s happening at Air New Zealand?

Airline shares have been under pressure lately amid rising fuel prices. The Qantas Airways Limited (ASX: QAN) share has also dropped 16% in the past month.

In today’s news, Air New Zealand is holding talks with striking cabin crew amid an ongoing wage dispute, New Zealand news website Stuff reported.

Employees who were made redundant during the COVID-19 pandemic are upset about being re-hired on lower wages. The company has rehired more than a thousand former staff for New Zealand’s international border opening, Newshub reported.

In recent share market news, Air New Zealand has recently been removed from the All Ordinaries Index (ASX: XAO). This was announced after market close on Friday as part of a quarterly rebalance of S&P/ASX indices. It will take effect from 21 March. Air New Zealand shares fell more than 3% between market close on Friday and Monday 7 March.

Finally, Air New Zealand’s half-yearly report also may have had a negative impact on its share price. The company’s shares dropped almost 4% on the day the report was released.

In its report, Air New Zealand said its fuel costs increased 14% to $174 million for the half-year. And the company noted it expects fuel costs to impact second-half results.

The airline reported a statutory loss before tax of $376 million, with dividends remaining suspended.

The company aims to be carbon neutral by 2050.

Air New Zealand share price

The Air New Zealand share price has fallen 12.7% in the past year, while it is down almost 8% this year to date.

For perspective, the benchmark ASX 200 has returned about 4% over the past year.

In the past week, Air New Zealand shares have slumped almost 10%.

Air New Zealand has a market capitalisation of about $1.46 billion based on the current share price.

The post Air New Zealand (ASX: AIZ) share price plummets 16% in a month appeared first on The Motley Fool Australia.

More reading

• Why this broker says the Transurban (ASX:TCL) share price can drive 14% higher
• Up 48% in 2022, why this ASX 200 energy giant is gaining again today
• 3 more of Morgans’ best ASX share ideas for March
• ‘Widespread flooding’ update: IAG (ASX:IAG) share price backtracks
• Fundie tips ASX battery metal shares that are NOT lithium

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 Bruce Jackson.

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The Transurban Group (ASX: TCL) share price could be driving higher from here.

That’s the view of the team at Morgans, which has just named it among its best ideas for March.

Where is the Transurban share price heading?

According to the note, the broker has an add rating and $14.29 price target on the toll road operator’s shares.

Based on the current Transurban share price of $12.51, this implies potential upside of 14% for investors over the next 12 months.

In addition, Morgans expects a 35 cents per share distribution in FY 2022 and then an increase to 53.7 cents per share in FY 2023.

If you add FY 2022’s dividend yield of 2.8% into the equation, this brings the total potential return on offer with its shares to almost 17%.

Why is Morgans bullish?

Morgans is bullish on the Transurban share price due to the company’s exposure to urbanisation and the growth in regional population and employment. It expects this and its growth projects to underpin a rapid recovery in its dividend as COVID headwinds ease.

Its analysts explained: “TCL owns a pure play portfolio of toll road concession assets located in Melbourne, Sydney, Brisbane, and North America. This provides exposure to regional population and employment growth and urbanisation. Given very high EBITDA margins, earnings are driven by traffic growth (with recovery from Covid) and toll escalation (roughly half at CPI and the remainder fixed c.4% pa).”

“We think TCL will continue to be attractive to investors given its market cap weighting (important for passive index tracking flows), the high quality of its assets, management team, balance sheet, and growth prospects. Watch for rapid recovery in DPS alongside traffic recovery and WestConnex acquisition prospects. A negative overhang is the contaminated soil disposal issues related to its West Gate Tunnel Project,” it added.

The post Why this broker says the Transurban (ASX:TCL) share price can drive 14% higher appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy next week
• Why brokers rate these ASX 200 dividend shares as buys
• Which new investments are predicted to help the AFIC (ASX:AFI) share price and dividends?
• Just banked the Transurban (ASX:TCL) dividend? Here’s what you need to know
• Morgans names 2 ASX 200 dividend shares to buy right now

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has shaken off its recent malaise today and is currently up 1.1%.

ASX 200 energy giant Woodside Petroleum Limited (ASX: WPL) is edging ahead of the benchmark, up 1.4% at time of writing.

That marks a lengthy run of outperformance for the Woodside share price, which has now gained a whopping 48% since the opening bell on 4 January. This has seen its market cap grow to some $32 billion.

While the Woodside share price performance stands out amongst its peers, the S&P/ASX 200 Energy Index (ASX: XEJ) has also left the benchmark in the dust.

Despite today’s lift, the ASX 200 is down 7% year-to-date, compared to a 20.7% gain posted by the Energy Index.

Why are ASX 200 energy shares like Woodside outperforming?

You need look no further than the eye watering petrol prices posted at your local servo to grasp the biggest tailwind propelling ASX 200 energy shares higher.

Fossil fuel prices, already trending upwards at the end of 2021, have rocketed to record or near-record highs following Russia’s invasion of neighbouring Ukraine.

Brent crude is up another 1.4% over the past 24 hours. It’s currently trading for US$130 per barrel, after briefly touching US$132 per barrel earlier in the day, according to data from Bloomberg. That’s the highest level since 2008, and clearly helping lift ASX 200 energy shares.

The latest surge in crude prices comes after United States President Joe Biden and United Kingdom Prime Minister Boris Johnson said their nations would ban imports on Russian oil.

“The United States is targeting the main artery of Russia’s economy. We will not be part of subsidizing Putin’s war,” Biden said.

While the US is also targeting Russian coal and gas exports, the UK won’t yet follow suit. To date, continental European nations have yet to sign onto the oil ban.

Woodside share price snapshot

As Brent crude oil has soared 42% over the past month, the Woodside share price has gone along for the ride, up 25% since the closing bell on 9 February.

By comparison, the ASX 200 is down 2.8% while the ASX 200 Energy Index is up 10.4%.

The post Up 48% in 2022, why this ASX 200 energy giant is gaining again today appeared first on The Motley Fool Australia.

More reading

• Why Bapcor, GQG, Smartgroup, and Woodside shares are dropping
• Woodside (ASX:WPL) share price slips for first time in 7 days
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX shares today
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends

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 Bruce Jackson.

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