Energy dominated the ASX 200 market sectors this week, gaining 2.07% over the past five trading days.
Overall, just three of the 11 market sectors finished the week higher.
Aside from energy, there were very small gains in ASX materials and financial shares.
As a result, the S&P/ASX 200 Index (ASX: XJO) virtually moved sideways, recording a 0.14% loss over the five trading days to close at 7,040.8 points on Friday.
Let's review the week.
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Energy led the ASX sectors this week
In the energy commodities markets this week, the coal price moved 0.77% lower to US$122.15 per tonne.
The Brent Crude oil price lifted 1.11% to $US81.55 per barrel, and West Texas Intermediate crude rose 0.38% to US$76.58 per barrel.
The Organization of the Petroleum Exporting Countries (OPEC+) was due to meet this Sunday Australian time. However, this has been postponed til 30 November amid in-fighting between the 23-nation bloc over whether to cut global oil production further.
Among the larger ASX 200 energy players, we saw strong gains for Whitehaven Coal Ltd (ASX: WHC) shares, up 6.28% to $7.28.
There was no price-sensitive news out of Whitehaven this week.
Among the ASX energy small-caps, Strike Energy Ltd (ASX: STX) shares rose by 7.79% to 42 cents.
Strike hosted its annual general meeting (AGM) yesterday, where chair John Poynton described 2023 as "another transformative year for Strike".
He said the company had transitioned from explorer to producer with the commissioning of its Walyering project.
Poynton added:
Along with securing our maiden cash flows through the Walyering project, we also strengthened our balance sheet through the involvement in the take-over bid of our West Erregulla joint venture partner, Warrego Energy. By accepting Hancock Energy's higher and ultimately successful cash bid, Strike added $136 million to its cash position.
Strike has proposed to take over Talon Energy Ltd (ASX: TPD) via a binding Scheme of Arrangement. Talon shareholders will receive 0.4828 Strike shares per Talon share. The scheme vote is on 7 December.
ASX uranium share Boss Energy Ltd (ASX: BOE) also had a good week, rising 3.89% to $4.41 per share.
There was no price-sensitive news from Boss this week. However, broker Bell Potter released a bullish note upgrading Boss Energy shares to a speculative buy rating with a 12-month price target of $5.53.
ASX 200 market sector snapshot
Here's how the 11 market sectors stacked up this week, according to CommSec data.
Over the past five days:
| S&P/ASX 200 market sector | Change this week |
| Energy (ASX: XEJ) | 2.07% |
| Financials (ASX: XFJ) | 0.92% |
| Materials (ASX: XMJ) | 0.20% |
| Healthcare (ASX: XHJ) | (0.62%) |
| Industrials (ASX: XNJ) | (0.78%) |
| Utilities (ASX: XUJ) | (0.96%) |
| Consumer Staples (ASX: XSJ) | (1.36%) |
| Communication (ASX: XTJ) | (1.43%) |
| Consumer Discretionary (ASX: XDJ) | (1.54%) |
| A-REIT (ASX: XPJ) | (1.93%) |
| Information Technology (ASX: XIJ) | (2.96%) |
