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ASX Midday Sector Update: Energy Stocks Advance, Consumer Staples Sector Struggles

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Energy stocks continued to rally, advancing nearly 2% at midday on Thursday, as oil prices surged after the US conducted fresh strikes on Iran.

Woodside Energy Group's (ASX:WDS) shares rose past 1% in recent trading.

On the flip side, the materials sector fell past 1%. Gold fell for three consecutive sessions to around around $4,080 per ounce.

Catalyst Metals' (ASX:CYL) shares were down over 2% after it entered into gold forward contracts for 30,000 ounces of gold at a fixed price of AU$6,075 per ounce, with deliveries spread evenly over 15 months at 2,000 ounces per month starting in August, representing 2% of reserves or one quarter of production.

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