** Australian energy sub-index rises as much as 1.6% to its highest level since Dec. 6

** Brent crude futures rise 0.11% to $74.25 a barrel, while U.S. West Texas Intermediate crude gains 0.06% to $70.64 per barrel

** Oil prices ended more than 1% higher on Friday, buoyed by a larger-than-expected drawdown from U.S. crude inventories

** Sector major Woodside Energy rises as much as 1.6%, while Santos gains 1.8%

** Karoon Energy jumps 3.5% and Whitehaven Coal

adds 1.5%

** Sub-index up for a fifth straight session

** As of last close, AXEJ down 20.1% this year vs an 8.8% gain in the benchmark stock index

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((manasi.dasasundeep@thomsonreuters.com))