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Oil prices have risen more than 3 per cent, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power over the weekend with an anti-corruption crackdown, while the US rig count fell and markets continue to tighten.
The Australian market has opened slightly higher after a mainly positive lead from US markets, with gains from most of the big mining and energy stocks outweighing a mixed performance among the major banks.
Andrew Forrest has detailed how he plans to build "the most popular rugby competition in the world", with the mining billionaire hoping to obtain approval from both World Rugby and the Australian Rugby Union in the next three weeks.