ASX 200 closes lower with tech stocks falling over fears Democrats could tighten regulations

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Director of research at stock analyst firm Kalkine, Hina Chowdhary, said it was clear the oil price rise internationally was a plus for ASX players.

"Sustainability of high levels needs to be monitored though," she said.

"The pessimism in the oil space might get some reversal now, hence stocks with stable aspects and quality business might bring a good change in the space with prices going in favour this year to an extent.

"Volatility can be and is always expected, as we have to consider production scenario with demand and supply bracket."

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