Stocks to watch on the Australian stock exchange:

BHP – BHP BILLITON

FMG – FORTESCUE METALS GROUP

RIO – RIO TINTO

The price of iron has continued its recent decline, falling $US3.29, but remains comfortably above the $US60-mark, at $US62.78.

ORG – ORIGIN ENERGY

STO – SANTOS

WPL – WOODSIDE PETROLEUM

Oil prices have surged more than four per cent, with Brent crude up $US1.87, or 4.2 per cent, at $US46.35 and WTI up $US1.98, or 4.64 per cent, at $US44.62.