April 12 (Reuters) - Australian shares are set to open higher on Wednesday as rising commodity prices are expected to bolster materials and energy stocks.
Crude oil prices LCOc1 CLc1 rose on Tuesday following reports that Saudi Arabia has told OPEC officials it wants to continue output cuts for an additional six months. O/R
Gold XAU= jumped to a fresh five-month high on Tuesday as investors sought assets seen as havens from risk amid mounting political and security concerns. GOL/
The local share price index futures YAPcm1 rose 18 points to 5,936.0, a 6.7-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.3 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.4 percent in early trade.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a summary of overnight action across global markets, click on
AU/CALL For a digest of the day's business stories in Australian newspapers, click on
PRESS/AUB
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