Aug 30 (Reuters) - Australian shares rose on Tuesday, led by gains in energy stocks on strong oil prices, while the country's biggest independent gas producer Woodside Energy Ltd posting a five-fold jump in first-half profit also aided sentiment.

The S&P/ASX 200 index rose 0.47% to 6,997.9 by 0125 GMT. The benchmark settled 2% lower on Monday.

Leading the charge, energy shares gained 2.8% buoyed by oil prices settling up more than 4% overnight, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth.

Shares of Woodside Energy Group climbed 3.8% to hit a more than three-year high, after the independent gas producer tripled its interim dividend payout after posting a five-fold jump in its first-half profit.

Energy heavyweight Santos Ltd gained 2.8% on soaring oil prices, as the energy producer announced extension of its two syndicated bank loan facilities totalling $1.25 billion.

In a slew of earnings updates, Bubs Australia skidded 3.3% despite the infant formula products maker posting record revenues, while Healius climbed 1.8% after the healthcare services firm lifted its dividend.

Financials gained 0.9%, with all of the so-called "Big Four" banks trading in the positive territory.

Rate-sensitive technology stocks were up 0.8%, despite a decline on Wall Street on fears over aggressive rate hikes, with ASX-listed shares of Block Inc gaining 1.4% at A$98.87.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.74% to 11,592.2.

(Reporting by Riya Sharma in Bengaluru; Editing by Rashmi Aich)