SYDNEY, AAP – Australian share market investors have ended the day with minor gains after a mid-session turnaround from the banks.

The S&P/ASX200 benchmark index closed higher by 7.5 points, or 0.11 per cent, to 6686.6.

The All Ordinaries closed better by 14.8 points, or 0.21 per cent, at 6953.9.

Energy was the standout performer. The sector rose 4.25 per cent after oil prices hit an 11-month high just below $US57 a barrel, bolstered by Saudi Arabia’s plans to limit supply.

The financial sector was mostly lower for the first three hours of Wednesday’s trade but closed better by 0.17 per cent.

The ASX result followed those of US markets, which had minor gains.

The Aussie dollar was buying 77.64 US cents at 1617 AEDT, higher from 76.91 US cents at the close of trade on Tuesday.