Company Interview / Energy shock fuelling disruption for these stocks

Key points:

Cautious view on durability of the recent oil-price pullback and US–Iran optimism Concern over Australia’s fuel security and reliance on Viva Energy (ASX:VEA) and Ampol (ASX:ALD) Expectation of further earnings downgrades for fuel‑sensitive sectors such as Qantas (ASX:QAN), Virgin and Cleanaway (ASX:CWY) Defensive positioning with overweight energy, LNG exposure, higher cash and a core tech holding in WiseTech Global (ASX:WTC)

Emanuel Datt from Datt Capital outlines a cautious stance on the energy shock hitting global markets, arguing that optimism around renewed US–Iran talks may be premature. Datt states that physical fuel disruptions lasting more than a month rarely resolve quickly, and expects ongoing knock-on effects for supply chains, inflation and equity valuations. He highlights Australia’s vulnerability, with only about 20% of fuel refined locally through Viva Energy (ASX:VEA) and Ampol (ASX:ALD), and foresees a stronger policy focus on energy security and supply chain resilience.

Datt notes that higher fuel costs are already flowing into corporate earnings. He points to sectors such as logistics and industrials as most exposed, citing Qantas (ASX:QAN), Virgin and Cleanaway (ASX:CWY) updating guidance as fuel expenses rise. Datt expects more downgrades across the market if elevated energy prices persist.

On the consumer side, Datt views surging petrol prices as a direct cost-of-living shock that forces households to cut discretionary spending, pressuring retail and other cyclical names. Positioning remains reasonably defensive, with elevated cash and overweight exposure to energy, including LNG-levered names. In technology, Datt favours WiseTech Global (ASX:WTC), arguing its shift to a volume-based model and headcount reduction could enhance margins while the stock trades near multi‑year valuation lows.