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SYDNEY, AAP – Rising commodities prices have helped the Australian share market close higher and the dollar move higher against the US.

The S&P/ASX200 benchmark index closed higher by 58.3 points, or 0.86 per cent, to 6839.2 on Tuesday.

The All Ordinaries closed higher by 49.2 points, or 0.7 per cent, at 7110.8.

Energy was the top sector, up 4.85 per cent, as oil prices climbed on demand expectations.

The materials sector gained 1.98 per cent as prices for base metals rose.

The Australian dollar reached its highest level in about three years, 79.35 US cents.

The dollar was buying 79.18 US cents at 1624 AEDT, higher from 78.82 US cents at Monday’s close.