Get ready to pay more at the servo if the bullish sentiment around oil prices that has led hedge funds to boost oil buying for the fourth week running is any indication.

Hedge funds and other money managers purchased the equivalent of 40 million barrels (MMbbl) in the six most important petroleum futures in the week to May 4, taking the total purchased over the last four weeks up to 102MMbbl.

Reuters noted the rate of hedge fund oil buying is accelerating and widening to include both crude and refined fuels, which is consistent with growing confidence about an economic recovery and cyclical upturn in petroleum consumption.

This increase in oil buying is due at least in part to the massive surge in COVID-19 infections in India and Iran increasing production to become OPEC’s fourth-largest producer being offset by continued expectations that oil consumption will increase later in the year and a flattening in the number of rigs drilling for shale oil in the US.

Meanwhile, Macquarie Group has said that it will stop financing coal projects by 2024 though oil and gas developments would still pass muster.

Chief executive officer Shemara Wikramanayake said recently that the company will fully divest any remaining interest in the coal industry within three years, joining major local banks such as Australia and New Zealand Banking Group, Commonwealth Bank of Australia and Westpac.

Renewable energy continues to shine

The International Energy Agency has flagged that India could double the already ambitious deployment of 450 gigawatts (GW) of renewable energy by 2030 to 900GW by 2040.

The Institute for Energy Economics and Financial Analysis believes that while India’s power system will have to evolve and modernise to respond to grid stability challenges brought about by the increasing share of renewables, an accelerated deployment of utility-scale battery storage as seen in other markets could help with this challenge.

Australia is certainly no stranger to battery storage with several utility-scale projects being developed across the country.

However, it’s not all positive with Federal Minister for Resources, Water and Northern Australia Keith Pitt blocking public funding of a windfarm and battery project in northern
Queensland.

In a letter to the Northern Australian Infrastructure Facility, which had already approved up to $280m in funding for the project, Pitt said the renewable energy project would not provide dispatchable generation into the grid and that he was not convinced that it would lower prices.

Project developer Neoen Australia told the Courier Mail that while it was disappointed about the decision, it remained committed to the project, which already has a power purchase agreement in place with Queensland government agency CleanCo.

Here’s how a basket of ASX stocks with exposure to oil, gas, uranium and coal are performing>>>

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE COMPANY Price 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % 1 WEEK RETURN % MARKET CAP
LIO Lion Energy Limited 0.062 121 313 210 -11 $ 16,456,623.51
MEY Marenica Energy Ltd 0.245 69 153 266 20 $ 53,007,222.56
LCK Leigh Crk Energy Ltd 0.24 55 66 170 -11 $ 162,451,669.20
PEN Peninsula Energy Ltd 0.19 46 197 55 58 $ 183,137,083.13
BLZ Blaze International 0.039 44 26 200 26 $ 9,450,000.00
ICN Icon Energy Limited 0.02 43 -9 100 18 $ 10,756,924.88
ADD Adavale Resource Ltd 0.064 28 88 300 -21 $ 19,790,165.66
AGE Alligator Energy 0.023 28 283 475 35 $ 54,330,332.92
IEC Intra Energy Corp 0.01 25 11 150 11 $ 3,977,240.30
DYL Deep Yellow Limited 0.87 21 168 235 26 $ 308,903,914.25
OXX Octanex Ltd 0.042 20 223 250 -29 $ 11,086,425.12
KKO Kinetiko Energy Ltd 0.13 18 4 550 18 $ 76,462,191.65
GRV Greenvale Mining Ltd 0.21 17 180 1084 -2 $ 82,518,413.46
PDN Paladin Energy Ltd 0.51 16 317 301 29 $ 1,438,012,454.58
TOE Toro Energy Limited 0.03 15 114 200 30 $ 82,708,189.73
BMN Bannerman Resources 0.17 15 354 311 28 $ 208,099,111.15
NWE Norwest Energy NL 0.008 14 100 167 -20 $ 40,587,547.28
FZR Fitzroy River Corp 0.16 14 13 -6 0 $ 17,272,680.16
TER Terracom Ltd 0.105 14 -30 -13 12 $ 73,099,940.11
VEA Viva Energy Group 2.02 12 7 35 2 $ 3,295,659,226.35
NAE New Age Exploration 0.019 12 36 533 -14 $ 21,951,772.38
XST Xstate Resources 0.055 10 57 267 -8 $ 13,447,937.58
KAR Karoon Energy Ltd 1.24 10 41 115 0 $ 694,826,260.87
EME Energy Metals Ltd 0.195 8 95 63 15 $ 40,888,245.84
ALD Ampol Limited 26.48 8 -4 8 2 $ 6,427,007,610.03
POW Protean Energy Ltd 0.014 8 27 264 17 $ 9,108,581.48
WOR Worley Limited 11.38 7 5 33 8 $ 6,139,585,865.28
AFR African Energy Res 0.018 6 -25 -14 -5 $ 11,836,251.97
DOR Doriemus PLC 0.065 5 35 183 0 $ 3,768,903.13
GLL Galilee Energy Ltd 0.79 5 10 108 -7 $ 248,018,867.04
WGO Warrego Energy Ltd 0.26 4 33 79 11 $ 242,348,021.51
ZEL Z Energy Ltd. 2.64 4 -9 -11 6 $ 1,384,468,428.98
VMY Vimy Resources Ltd 0.015 3 341 200 25 $ 156,230,066.36
ZEU Zeus Resources Ltd 0.031 3 55 520 15 $ 5,404,500.00
BOE Boss Energy Ltd 0.17 3 174 158 10 $ 398,698,353.55
VMX Valmec Limited 0.305 2 56 97 2 $ 38,394,380.58
TEK Thorney Tech Ltd 0.395 1 7 73 -1 $ 144,717,241.60
2BE Tubi Limited 0.049 0 -30 -49 0 $ 15,254,032.17
92E 92Energy 0.29 9 $ 12,210,900.31
ABL Abilene Oil & Gas 0.001 0 0 0 0 $ 397,614.35
AEE Aura Energy 0.0433 0 0 0 0 $ 11,316,265.56
CCJ County International 0.004 0 0 0 0 $ 960,000.03
CVN Carnarvon Petroleum 0.28 0 6 40 8 $ 446,133,276.35
E2E Eon Nrg Ltd 0.001 0 0 0 0 $ 769,888.93
EER East Energy Resource 0.036 0 0 500 0 $ 115,235,533.26
EPM Eclipse Metals 0.02 0 100 122 0 $ 35,199,137.30
FAR FAR Ltd 0.011 0 0 -27 0 $ 109,767,132.17
FDM Freedom Oil Gas 0.011 0 0 0 0 $ 11,847,248.07
KEY KEY Petroleum 0.004 0 0 0 -20 $ 6,887,748.44
KLR Kaili Resources Ltd 0.026 0 -35 -28 0 $ 3,832,409.44
LKO Lakes Blue Energy 0.0015 0 0 0 0 $ 50,687,113.44
MEU Marmota Limited 0.044 0 -4 5 -2 $ 43,584,016.05
MHC Manhattan Corp Ltd 0.015 0 -40 67 0 $ 24,420,459.09
MMR Mec Resources 0.004 0 0 0 0 $ 2,737,819.70
NSE New Standard Energy 0.004 0 0 0 0 $ 3,554,995.46
PGY Pilot Energy Ltd 0.082 0 183 645 0 $ 17,905,770.76
PNL Paringa Resources 0.041 0 0 0 0 $ 25,944,078.11
PSA Petsec Energy 0.021 0 0 0 0 $ 8,580,346.40
RES Resource Generation 0.064 0 0 7 0 $ 37,208,341.63
REY REY Resources Ltd 0.27 0 -10 26 0 $ 57,220,435.53
RMP Red Emperor Resource 0.017 0 42 113 0 $ 8,929,977.19
SGC Sacgasco Ltd 0.031 0 -28 72 -16 $ 14,324,799.69
TEG Triangle Energy Ltd 0.03 0 25 7 -25 $ 19,864,431.39
TMK Tamaska Oil Gas Ltd 0.009 0 80 50 13 $ 9,400,000.00
TNP Triple Energy Ltd 0.025 0 0 150 0 $ 1,799,901.35
COE Cooper Energy Ltd 0.28 -1 -20 -27 18 $ 464,842,439.93
HZN Horizon Oil Limited 0.09 -1 61 76 3 $ 117,993,952.50
STO Santos Ltd 6.99 -1 24 44 2 $ 14,977,244,834.79
EEG Empire Energy Ltd 0.345 -1 -12 38 8 $ 125,324,980.49
SXY Senex Energy Limited 3.06 -2 18 96 -1 $ 569,006,680.20
BKY Berkeley Energia Ltd 0.58 -2 33 97 3 $ 142,440,045.00
CRM Carbon Minerals Ltd 0.36 -3 -8 3 0 $ 6,769,257.48
COI Comet Ridge Limited 0.067 -3 -6 -26 -3 $ 55,384,820.33
AJQ Armour Energy Ltd 0.031 -3 -28 5 0 $ 47,424,299.72
MCE Matrix C & E Ltd 0.145 -3 -12 -24 0 $ 14,836,607.21
MRM MMAOffShor 0.315 -5 -23 -34 3 $ 111,391,753.16
LAM Laramide Res Ltd 0.6 -5 71 71 5 $ 833,290.50
NZO New Zealand Oil&Gas 0.38 -5 -42 -16 -1 $ 62,483,672.84
WEL Winchester Energy 0.019 -5 -34 0 -10 $ 13,129,852.85
BUY Bounty Oil & Gas NL 0.018 -5 38 125 -5 $ 19,735,217.68
EXR Elixir Energy Ltd 0.36 -5 200 1285 3 $ 320,218,283.72
CUE CUE Energy Resource 0.065 -6 -65 -12 0 $ 43,981,542.36
WPL Woodside Petroleum 22.79 -6 16 4 1 $ 22,567,040,930.12
JPR Jupiter Energy 0.044 -6 -14 33 -2 $ 6,748,618.49
TOU Tlou Energy Ltd 0.056 -7 -14 -11 -7 $ 33,611,146.18
CXU Cauldron Energy Ltd 0.04 -7 -11 60 5 $ 18,079,980.48
OSH Oil Search Ltd 3.82 -7 15 33 2 $ 8,228,288,629.44
BRK Brookside Energy Ltd 0.026 -7 420 333 -16 $ 79,840,301.45
STX Strike Energy Ltd 0.36 -8 47 167 -5 $ 741,233,450.63
ANA Ansila Energy 0.024 -8 -33 243 -4 $ 46,244,303.15
MEL Metgasco Ltd 0.024 -8 18 46 4 $ 13,191,586.18
YAL Yancoal Aust Ltd 2.06 -8 6 -16 1 $ 2,799,331,606.44
MCM Mc Mining Ltd 0.105 -9 -45 -30 -25 $ 16,214,053.28
88E 88 Energy Ltd 0.0245 -9 206 390 -13 $ 326,718,351.21
DEV Devex Resources Ltd 0.285 -10 39 206 24 $ 72,076,729.20
SOL Soul Pattinson (W.H) 29.69 -10 11 67 -1 $ 7,184,253,553.20
TPD Talon Petroleum Ltd 0.009 -10 157 800 0 $ 47,924,316.20
GEV Global Ene Ven Ltd 0.085 -11 -11 42 -11 $ 41,594,876.52
ERA Energy Resources 0.21 -11 27 24 0 $ 793,647,387.57
VEN Vintage Energy 0.058 -11 -3 45 -6 $ 35,713,044.97
BNL Blue Star Helium Ltd 0.033 -11 -18 560 0 $ 44,390,264.94
CTP Central Petroleum 0.115 -12 -12 60 0 $ 79,650,302.71
IVZ Invictus Energy Ltd 0.14 -13 150 483 -13 $ 81,409,565.89
PVE Po Valley Energy Ltd 0.035 -13 17 -20 0 $ 22,655,013.61
WBE Whitebark Energy 0.0035 -13 17 -7 -13 $ 14,220,939.43
SRJ SRJ Technologies 0.33 -13 -39 27 $ 20,349,769.00
GAS State GAS Limited 0.49 -13 -6 24 -5 $ 84,785,829.45
ATS Australis Oil & Gas 0.043 -14 48 87 -2 $ 51,512,436.91
ORG Origin Energy 4.06 -14 -13 -27 -3 $ 7,326,638,055.36
NHC New Hope Corporation 1.16 -15 3 -18 -2 $ 978,019,571.35
IPB IPB Petroleum Ltd 0.031 -16 -9 121 3 $ 8,892,500.91
ACB A-Cap Energy Ltd 0.0585 -16 154 244 17 $ 54,056,861.69
HE8 Helios Energy Ltd 0.125 -17 -19 45 -7 $ 209,731,415.19
TSC Twenty Seven Co. Ltd 0.005 -17 -23 -29 0 $ 10,642,758.25
SMR Stanmore Coal Ltd 0.665 -17 -6 -34 -4 $ 182,524,280.18
BRU Buru Energy 0.145 -17 56 59 -9 $ 77,150,764.95
HPR High Peak Royalties 0.058 -17 -25 -17 -24 $ 10,959,471.14
PH2 Pure Hydrogen Corp 0.18 -18 128 260 -28 $ 61,009,626.21
NGY Nuenergy Gas Ltd 0.04 -18 300 233 0 $ 59,238,219.88
PRM Prominence Energy NL 0.013 -19 117 67 -19 $ 7,863,151.22
CE1 Calima Energy 0.008 -20 33 33 14 $ 70,298,598.53
PCL Pancontinental Oil 0.002 -20 100 100 0 $ 12,013,430.97
TDO 3D Oil Limited 0.055 -20 -2 -4 -8 $ 14,585,360.46
GGE Grand Gulf Energy 0.01 -23 25 150 -17 $ 4,221,244.26
HCD Hydrocarbon Dynamic 0.02 -23 -23 -24 -5 $ 8,805,802.12
IKW Ikwezi Mining Ltd 0.23 -23 -54 130 -8 $ 8,129,994.80
MAY Melbana Energy Ltd 0.019 -24 46 217 -14 $ 44,020,176.83
BYE Byron Energy Ltd 0.12 -24 -31 -29 2 $ 119,633,936.73
BPT Beach Energy Limited 1.29 -25 -10 -15 1 $ 3,045,580,430.76
FPL Fremont Petroleum 0.0045 -25 50 -10 -10 $ 23,392,562.60
OEX Oilex Ltd 0.0045 -25 125 125 0 $ 25,303,834.84
ROG Red Sky Energy. 0.009 -25 260 620 -10 $ 46,314,221.97
WEC White Energy Company 0.1 -26 2 16 0 $ 77,447,871.90
EDE Eden Inv Ltd 0.027 -27 4 -25 -10 $ 56,102,013.40
ADX ADX Energy Ltd 0.008 -27 60 33 -20 $ 20,334,091.78
BAS Bass Oil Ltd 0.0025 -29 150 67 -17 $ 10,026,420.29
GGX Gas2Grid Limited 0.0035 -30 40 75 -13 $ 8,006,204.16
WHC Whitehaven Coal 1.23 -32 9 -30 -6 $ 1,301,131,732.32
AUH Austchina Holdings 0.008 -33 60 300 -20 $ 14,707,119.25
RNU Renascor Res Ltd 0.073 -34 630 813 -6 $ 140,903,373.90
GLV Global Oil & Gas 0.017 -37 70 68 -23 $ 12,982,195.72
ENX Enegex Limited 0.097 -37 47 1523 -2 $ 14,443,710.10
SAN Sagalio Energy Ltd 0.023 -38 64 1050 -4 $ 4,707,182.99
OEL Otto Energy Limited 0.009 -44 -10 50 -10 $ 47,950,097.73

Small cap energy plays

Lion Energy (ASX:LIO) +121%

The company released its green hydrogen strategy, which includes the formation of a Hydrogen Advisory Board and the appointment of experts to systematically analyse optimal electrolyser locations in Australia.

It will also look to secure land rights, determine the best value and fit for purpose technology and appoint a feasibility study consultant with appropriate experience.

Additionally, Lion will establish joint ventures with global players to build large scale solar/wind farms and relevant energy storage facilities to produce green hydrogen.

Leigh Creek Energy (ASX:LCK) +55%

Shares in the company climbed after it reached a binding heads of agreement with South Korea’s DL E&C Co., Ltd to exclusively negotiate terms of a proposed agreement for the feasibility study, front-end engineering design work as well as engineering, procurement, construction and commissioning contract for its urea manufacturing facility.

The Leigh Creek Energy Project in South Australia is intended to developing low-cost nitrogen-based fertiliser for local and export agriculture markets.

Alligator Energy (ASX:AGE) +28%

With a strategic agreement in place with global commodities trader, Traxys, Alligator has now taken a key step towards becoming a uranium producer.

Under the deal, Traxys will provide a full scope of work for Alligator’s uranium project, which includes marketing services on future uranium production, long term off-take contracting, and project development financing.

Traxys will also assist Alligator in project acquisition opportunities.