BHP, Woodside Energy profits soar on high commodity prices

Australian companies like BHP and Woodside Energy are experiencing a boost in earnings, as reported by Bloomberg Markets, largely due to sustained high commodity prices. BHP, Australia’s largest miner, reported a 30% increase in fiscal 2026 underlying attributable profit, reaching US$13.2 billion. Meanwhile, Woodside Energy’s first-half 2026 underlying net profit after tax rose by 7%, benefiting from elevated oil and LNG prices. These developments highlight the continued strength of Australia’s resources sector, as high commodity prices persist. Market activity surrounding gold prices appears to reflect this strength in the commodity sector. With Australian firms reporting significant earnings boosts due to high commodity prices, markets may be interpreting this as an indicator of potential increased demand for gold. However, current pricing for gold futures suggests a tempered expectation, with the likelihood of reaching $15,000 by December 2026 remaining low. Key Takeaways Market participants appear to consider the robust earnings of Australian companies as a potential indicator for broader commodity demand. Current pricing suggests a low probability of gold reaching $15,000 by t...