Oil Prices Surge Helps TSX Higher -- Canadian Commentary

(RTTNews) - Canadian stocks continued to rise Tuesday, with energy stocks leading the way on surging crude oil prices.

Crude oil futures surged after a report in the Wall Street Journal highlighted Libyan supply interruptions.

West Texas Intermediate oil for December delivery jumped rose $1.76, or 3.8%, to settle at $47.90 a barrel.

The Energy Index jumped 3.35 percent, helping to offset weaker gold and health care stocks.

Metals stock also rallied, while financials nudged a bit higher.

In the end, the S&P/TSX Composite Index rose 87.30 points, or 0.64 percent, to 13,710.31.

WestJet Airlines (WJA.TO) is advancing 0.41 percent. The company announced that October load Factor was 77.1 percent, traffic was up 0.3 percent and capacity was up 0.7 percent.

The airline also reported adjusted third quarter EPS of C$0.82 versus C$0.66 last year. Shares slipped 2.3 percent.

TransCanada (TRP.TO) is rising 0.41 percent, after it reported third quarter adjusted earnings and revenue that beat analysts' estimates.

The company also asked the U.S. to pause its review of the application for the Keystone XL pipeline. The stock was up fractionally.