
The Australian share market continued its upward momentum this week, with the ASX 200 closing 0.3% higher. Energy stocks were the standout performers, thanks to a jump in oil prices after the US announced new sanctions on Russia’s two biggest oil companies. Locally listed names like Beach, Karoon and Woodside all posted double-digit gains. Also supporting sentiment was a new minerals agreement between Australia and the US, aimed at reducing reliance on China for critical rare earths. Eight of the eleven major sectors ended in the green.
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