Energy sector leads TSX higher as oil tops $70 a barrel

Oil tops $70 a barrel

Gains in the energy sector helped lead Canada's main stock index higher in early trading as the price of oil topped US$70 per barrel.

The S&P/TSX composite index was up 44.80 points at 20,047.07.

In New York, the Dow Jones industrial average was up 241.96 points at 34,689.10. The S&P 500 index was up 25.34 points at 4,244.89, while the Nasdaq composite was up 47.77 points at 13,959.52.

The Canadian dollar traded for 82.55 cents US compared with 82.68 cents US on Wednesday.

The July crude oil contract was up 54 cents at US$70.50 per barrel and the July natural gas contract was up five cents at US$3.18 per mmBTU.

The August gold contract was down US$1.10 at US$1,894.40 an ounce and the July copper contract was down five cents at US$4.48 a pound.

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