[MARKET UPDATE] Airline shares in Australia are pressured with Qantas (QAN AT) down more than 10%, while energy names surge with Woodside Energy up around 11% as they react to travel disruptions and surge in oil following the geopolitical escalation

Airline shares in Australia are pressured with Qantas (QAN AT) down more than 10%, while energy names surge with Woodside Energy up around 11% as they react to travel disruptions and surge in oil following the geopolitical escalation.

The sharp decline in Qantas shares reflects market concerns over travel disruptions stemming from recent geopolitical escalations, which are increasing uncertainty in the airline sector. Meanwhile, the surge in Woodside Energy's stock can be attributed to rising oil prices in response to these developments, highlighting a potential shift in market focus from travel to energy as a more stable investment amid volatility.