World oil benchmarks are poised to consolidate their gains after posting their biggest weekly rise in more than a year on the threat of war in the Middle East descending into a devastating regional conflict.

The S&P/ASX 200 Index’s exposure to energy stocks means it is poised to rise 0.3 per cent at the opening bell on Monday, reflecting oil’s strong finish. Brent crude jumped 8 per cent over the past five sessions to $US78 ($115) a barrel.