Stocks to watch on the Australian stock exchange:

BHP – BHP BILLITON

FMG – FORTESCUE METALS GROUP

RIO – RIO TINTO

The price of iron ore cements its position above the $US50 mark, lifting $US2.25 to $US51.20.

ORG – ORIGIN ENERGY

STO – SANTOS

Oil prices have surged, with WTI crude up 3.91 per cent, or $US1.35, at $US35.92, and Brent crude gaining 4.45 per cent, or $US1.65, to $38.72.