Oil is being driven higher by demand, not war tension. Watch for huge earnings jumps in ASX companies reporting
This week we will hear from one of the world's biggest oil producers, who is flying under the radar globally, and that is Woodside $Woodside Energy Group Ltd (WDS.AU)$ who reports Q1 numbers. It will be a gauge of what we can expect for oil demand.
There are Middle East War Scenarios from Bloomberg for Oil and VIX see below, but it's important to remember that oil prices are being driven by demand, not tension. Bloomberg has validated that. Also see below.
For ASX investors, also note that the most earnings growth this year in the ASX200, is expected to come from energy companies with EPS growth of 7,200% expected, according to Bloomberg consensus.
However Uranium companies are expected to see the most earnings growth, as they are coming off a low base. Outside of Uranium, traditional energy (oil) companies that are expected to see the most EPS growth include Beach Energy $Beach Energy Ltd (BPT.AU)$, as well as Viva $Viva Energy Group Ltd (VEA.AU)$, Ampol $Ampol Ltd (ALD.AU)$ and Karoon Energy $Karoon Energy Ltd (KAR.AU)$. See earnings expectations for the ASX200 energy sector stocks below $S&P/ASX 200 (.XJO.AU)$
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