The text details a significant rally in the shares of major liquefied natural gas (LNG) exporters following a major escalation of conflict in the Middle East, which disrupted global energy supply and subsequently fueled a surge in oil prices.

Market Rally and Price Surge

On Monday, shares of Australian LNG exporters Woodside Energy and Santos jumped as much as 11% and 9%, respectively, while Japan's Inpex Corporation, which operates an Australian LNG project, gained as much as 11%. This rally was directly triggered by the effective halt of tanker traffic through the Strait of Hormuz, a critical chokepoint that handles approximately 20% of global supply. The disruption was a retaliatory action by Iran following US and Israeli strikes. Concurrently, Brent crude oil prices surged nearly 7% to a high of $82.37, a level not seen since January 2025, reflecting heightened concerns over supply security.

Specific Company Performance and Further Disruption

Woodside's stock closed 6.8% higher at A$30.24, with heavy trading volume of approximately 14.5 million shares. Santos shares ended up 6.7% at A$7.21, with about 33.7 million shares traded. Later on Monday, the supply situation worsened when QatarEnergy announced a suspension of its LNG production following attacks on its facilities, including Ras Laffan, further tightening the global LNG market.

Subsequent Market Adjustment

Despite the ongoing and deteriorating security situation in the Middle East, which included continued Iranian retaliatory strikes on strategic oil and gas installations, shares for Woodside, Santos, and Inpex all retreated slightly at Tuesday's market opening. This indicates a partial market correction after the initial sharp rally.