Strong Energy Stocks Help Offset Weak Retailers -- Canadian Commentary

(RTTNews) - Energy stocks continued to lead Toronto's main index to the upside Tuesday, as crude oil prices rallied to their highest since last October.

Unofficially, the S&P/TSX Composite Index was up 20 points at 13,913.60, adding to significant gains from the previous session.

Energy stocks were up 2.5 percent, extending strong recent gains.

Supply outages in Canada and Nigeria have driven oil prices sharply higher in May. Canadian oil sands producers are struggling to resume full-scale operations due to the ongoing fires near Ft. McMurray in Alberta.

June WTI crude rose 59 cents, or 1.2%, to settle at $48.31 a barrel on the New York Mercantile Exchange.

Consumer staples stocks lagged other sectors, losing 2.2 percent.