Australian LNG exporters surged as geopolitical tensions disrupted global supply chains. Woodside Energy Group jumped as much as 11%, the biggest gain in six years, while Santos climbed 9% after tankers stopped crossing the Strait of Hormuz following US-Israel bombings in Iran and subsequent Iranian retaliation against regional targets and oil tankers.

The conflict forced Iran to retaliate by targeting regional sites and attacking tankers, effectively cutting off supply from Qatar—the world's second-largest LNG producer—and the United Arab Emirates. Goldman Sachs warned a month-long disruption could push Asian LNG prices 130% higher to $25 per million British thermal units as demand remains strong.

Australian exporters face constraints in rapidly increasing output despite the supply crunch, according to analyst Joshua Runciman. However, companies like Woodside and Santos stand to benefit from higher earnings driven by elevated oil and LNG prices resulting from the geopolitical crisis in the Middle East. The market reaction demonstrates how regional conflicts can rapidly reshape global energy markets.