Oil price jump boosts Canadian energy stocks

Long-suffering Canadian energy stocks were on track to post their best day in nearly three years after an attack on Saudi Arabian oil facilities on the weekend sent oil prices soaring.

The index that tracks energy company share prices on the Toronto Stock Exchange was up as much as 11 per cent just before noon Monday.

The surge was led by double-digit increases for firms including Encana Corp., Baytex Energy Corp., Cenovus Energy Inc. and Canadian Natural Resources Ltd. — all headquartered in Calgary.

The TSX was on track to set a new record as a result.

Read more at CBC.ca