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TSX higher as oil prices spike after U.S. inventory report

Toronto Star -- The Toronto stock market pushed higher Wednesday morning, helped along by a sharp rise in oil prices following the release of the latest crude inventory levels in the U.S

The S&P/TSX composite index advanced 63 points to 11,981.7.

The TSX has been lower all week following a sharp three per cent gain last week, finally surpassing the level where it started the year, as investors responded to higher commodity prices and a slew of positive bank earnings.

Analysts said the back and forth action could be a factor in markets for some time.

“It’s been this way for six months and it’s probably going to continue this way for a number of months to come and that is that we are in a traders’ market,” said Gareth Watson, director Canadian Equities Portfolio Advisory Group at ScotiaMcLeod.

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Submitted Mar 10, 2010 By: sphere68

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mmene Champion Author Houston Posts:2,378 Points:547,820 Joined:May 2008	Message Posted: Mar 10, 2010 10:40:20 PM Ignore mmene Report Abuse At least I would rather have our money go to Canada than OPEC.
Blue48 Champion Author Illinois Posts:2,486 Points:632,865 Joined:Feb 2007	Message Posted: Mar 10, 2010 8:59:59 PM Ignore Blue48 Report Abuse WE LOVE YOU..YOU CRAZY CANADIANS!!
Pete12 Champion Author Albany Posts:1,855 Points:771,790 Joined:Nov 2005	Message Posted: Mar 10, 2010 5:32:15 PM Ignore Pete12 Report Abuse supply and demand has nothing to do with the price of oil and gas unless the surplus goes down. If the surplus goes up the price still goes up.
fire@53 Champion Author Philadelphia Posts:6,876 Points:1,789,575 Joined:May 2003	Message Posted: Mar 10, 2010 5:11:19 PM Ignore fire@53 Report Abuse Until the speculators and hedge funds are reigned in this will go on for a long time.
ang2010 Veteran Author New York Posts:322 Points:77,175 Joined:Feb 2010	Message Posted: Mar 10, 2010 5:07:02 PM Ignore ang2010 Report Abuse you better believe this is crazy.
mplato Champion Author Columbia Posts:4,102 Points:988,780 Joined:Jun 2004	Message Posted: Mar 10, 2010 5:06:53 PM Ignore mplato Report Abuse inventory doesnt matter in the energy field. speculators do.
socaltazz Rookie Author Orange County Posts:3 Points:2,315 Joined:Mar 2010	Message Posted: Mar 10, 2010 5:05:40 PM Ignore socaltazz Report Abuse when stop all this....
BobbyVA Champion Author Virginia Beach Posts:1,285 Points:277,665 Joined:Jul 2009	Message Posted: Mar 10, 2010 5:04:17 PM Ignore BobbyVA Report Abuse This is old news and its pushed by the Obama Admin, not big oil, as they would have you believe. This entire W/H is about acquiring power over the people and its old history as most historians will attested.
njerald Champion Author Seattle Posts:2,698 Points:628,830 Joined:Oct 2007	Message Posted: Mar 10, 2010 5:01:58 PM Ignore njerald Report Abuse Ho hum....
sgonza98 Champion Author San Antonio Posts:3,499 Points:556,345 Joined:Apr 2004	Message Posted: Mar 10, 2010 5:01:15 PM Ignore sgonza98 Report Abuse Train rider, it's starts spiking EVERY spring right about now.
Sgt151 Rookie Author Louisiana Posts:67 Points:416,395 Joined:Oct 2008	Message Posted: Mar 10, 2010 5:00:33 PM Ignore Sgt151 Report Abuse Same old news.
TRAIN RIDER Champion Author San Bernardino Posts:4,091 Points:1,759,665 Joined:Oct 2004	Message Posted: Mar 10, 2010 4:51:00 PM Ignore TRAIN RIDER Report Abuse IT ISN'T EVEN SPRING AND THEY ARE ALREADY SPECULATING ABOUT SUMMER.
Panthr1 Sophomore Author North Carolina Posts:140 Points:441,395 Joined:Aug 2008	Message Posted: Mar 10, 2010 4:40:43 PM Ignore Panthr1 Report Abuse Maybe they start charging people to speculate, maybe they would stop!
goldseeker Champion Author West Virginia Posts:12,675 Points:1,708,740 Joined:Sep 2005	Message Posted: Mar 10, 2010 4:38:14 PM Ignore goldseeker Report Abuse No real surprise.
Wolfwings Champion Author Delaware Posts:3,735 Points:781,145 Joined:May 2004	Message Posted: Mar 10, 2010 4:27:37 PM Ignore Wolfwings Report Abuse I wonder what would happen if speculators were only allowed to deal in lots of 100 barrels at a time.
dollarwatcher Champion Author Wisconsin Posts:2,806 Points:524,150 Joined:Mar 2007	Message Posted: Mar 10, 2010 4:25:19 PM Ignore dollarwatcher Report Abuse Who cares, who really cares?
aarrrt Champion Author San Diego Posts:2,809 Points:678,625 Joined:May 2008	Message Posted: Mar 10, 2010 4:22:57 PM Ignore aarrrt Report Abuse Same storyline, just a different date.
snewwee Champion Author Detroit Posts:4,809 Points:978,405 Joined:Sep 2007	Message Posted: Mar 10, 2010 4:21:42 PM Ignore snewwee Report Abuse And the U.S. stock market barely made a gain today. Energy related stocks took a hit.
saleboss All-Star Author Phoenix Posts:582 Points:514,885 Joined:Feb 2006	Message Posted: Mar 10, 2010 4:17:28 PM Ignore saleboss Report Abuse Moving in the dance, back and forth!
Bhmf4 Veteran Author Alabama Posts:441 Points:370,930 Joined:Oct 2008	Message Posted: Mar 10, 2010 4:17:11 PM Ignore Bhmf4 Report Abuse It would seem that we would be very interested in developing our own sources of fuel to help our own country. Not the case yet, at least.
LostAgain2009 Veteran Author New Mexico Posts:465 Points:181,930 Joined:Apr 2009	Message Posted: Mar 10, 2010 4:15:27 PM Ignore LostAgain2009 Report Abuse Just bend us over the barrel.
comprof Champion Author Houston Posts:1,582 Points:350,725 Joined:Jul 2009	Message Posted: Mar 10, 2010 4:05:44 PM Ignore comprof Report Abuse More of the same.
caddilac Champion Author Ontario Posts:10,420 Points:1,123,455 Joined:Apr 2007	Message Posted: Mar 10, 2010 3:58:32 PM Ignore caddilac Report Abuse It's the same thing every week. No matter what happens it will be an excuse to raise gas prices.
Chazzy12 Champion Author Massachusetts Posts:2,064 Points:418,080 Joined:Dec 2008	Message Posted: Mar 10, 2010 3:55:46 PM Ignore Chazzy12 Report Abuse greed and manipulation
RockCity Champion Author Denver Posts:2,550 Points:454,570 Joined:Mar 2009	Message Posted: Mar 10, 2010 3:54:39 PM Ignore RockCity Report Abuse I thought the object was to make as much money as possible.
NavyStore Champion Author Seattle Posts:2,526 Points:1,148,785 Joined:Aug 2005	Message Posted: Mar 10, 2010 3:53:04 PM Ignore NavyStore Report Abuse And we'll get screwed no matter what.
swrestler Champion Author Grand Rapids Posts:1,005 Points:556,410 Joined:Oct 2008	Message Posted: Mar 10, 2010 3:52:00 PM Ignore swrestler Report Abuse SPECULATION Enough Said.....
NavyEOD Champion Author Los Angeles Posts:4,954 Points:1,021,965 Joined:Jul 2007	Message Posted: Mar 10, 2010 3:49:40 PM Ignore NavyEOD Report Abuse More bad news.
ifallsguy Champion Author Minnesota Posts:2,536 Points:719,200 Joined:Apr 2007	Message Posted: Mar 10, 2010 3:39:16 PM Ignore ifallsguy Report Abuse time to buy into Canadian stocks
MINER Champion Author Pittsburgh Posts:8,287 Points:2,438,945 Joined:Jul 2002	Message Posted: Mar 10, 2010 3:37:09 PM Ignore MINER Report Abuse What ever happened to those ideas a few years back that suggested we form some kind of cooperatives to buy gas in big lots. Like the farmers form..And several others have done. Peoples gas company...
KarateDude Champion Author Cincinnati Posts:1,426 Points:290,695 Joined:Mar 2008	Message Posted: Mar 10, 2010 3:35:03 PM Ignore KarateDude Report Abuse It's not IF they are making a hugh profit....its how much of a hugh profit !!!
ricker8 Champion Author Ontario Posts:2,216 Points:448,365 Joined:Oct 2008	Message Posted: Mar 10, 2010 3:34:39 PM Ignore ricker8 Report Abuse speculation sucks!
Rajah Champion Author Illinois Posts:4,553 Points:1,479,365 Joined:Jul 2005	Message Posted: Mar 10, 2010 3:32:45 PM Ignore Rajah Report Abuse They're making all that money from our wallets.. End the speculation maddness. If they buy the oil, they have to take physical delivery of it.
eddyp94 Champion Author Ontario Posts:3,976 Points:832,760 Joined:Mar 2008	Message Posted: Mar 10, 2010 3:30:50 PM Ignore eddyp94 Report Abuse everyone in the oil market is making money.....
djtdi Champion Author San Jose Posts:1,026 Points:260,290 Joined:Aug 2005	Message Posted: Mar 10, 2010 3:25:04 PM Ignore djtdi Report Abuse Goes up,goes down. Keep consumers befuddled.
rfe330 All-Star Author Winston-Salem Posts:700 Points:229,275 Joined:Nov 2008	Message Posted: Mar 10, 2010 3:20:11 PM Ignore rfe330 Report Abuse BOHICA
thirstyauto Champion Author Milwaukee Posts:5,829 Points:604,930 Joined:Nov 2008	Message Posted: Mar 10, 2010 3:19:47 PM Ignore thirstyauto Report Abuse If we all had money to put into oil stocks, we'd all be a lot better off.
2granny Champion Author Michigan Posts:4,034 Points:449,425 Joined:Apr 2009	Message Posted: Mar 10, 2010 3:19:42 PM Ignore 2granny Report Abuse We knew it was coming because is coming soon. Nothing but GREED.
justinoles All-Star Author Orlando Posts:719 Points:145,935 Joined:Jul 2009	Message Posted: Mar 10, 2010 3:17:54 PM Ignore justinoles Report Abuse More bull...
luvvws Rookie Author Colorado Posts:5 Points:1,130 Joined:Mar 2010	Message Posted: Mar 10, 2010 3:12:17 PM Ignore luvvws Report Abuse sure it's going up, it's closer to summer and they expect more people to drive around more.
nb52 Champion Author Grand Rapids Posts:2,680 Points:541,390 Joined:Nov 2008	Message Posted: Mar 10, 2010 2:53:26 PM Ignore nb52 Report Abuse Good news if you have a 401K with Canadian stock.
lightbulbman2008 Champion Author Worcester Posts:41,312 Points:614,710 Joined:Oct 2008	Message Posted: Mar 10, 2010 2:52:21 PM Ignore lightbulbman2008 Report Abuse the transports must like higher energy prices.!!!! I DO NOT AT ALL.!!!!!
Muke Champion Author Virginia Beach Posts:2,773 Points:703,810 Joined:Jun 2007	Message Posted: Mar 10, 2010 2:43:46 PM Ignore Muke Report Abuse O. K.
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 10, 2010 2:43:32 PM Ignore Rick52 Report Abuse Big Oil wants $3.00 a gallon ...There going for it ...
myambro Champion Author Sacramento Posts:1,056 Points:420,105 Joined:Mar 2005	Message Posted: Mar 10, 2010 2:39:34 PM Ignore myambro Report Abuse gobbledygook
frede2 Champion Author Texas Posts:4,117 Points:880,145 Joined:May 2005	Message Posted: Mar 10, 2010 2:31:36 PM Ignore frede2 Report Abuse No reason other than ripoff mentality!!
monarch57 Veteran Author British Columbia Posts:267 Points:23,815 Joined:Nov 2008	Message Posted: Mar 10, 2010 2:28:01 PM Ignore monarch57 Report Abuse They are pushing for another recession. Gas went up 10 cents a liter here on Monday or over $4.00 a gallon. Greed.
ChuckGVT Champion Author Vermont Posts:1,912 Points:695,845 Joined:Apr 2008	Message Posted: Mar 10, 2010 2:24:52 PM Ignore ChuckGVT Report Abuse Who ever heard of TSX?
no_monkey2002 Champion Author Tallahassee Posts:3,642 Points:1,093,830 Joined:Mar 2006	Message Posted: Mar 10, 2010 2:23:29 PM Ignore no_monkey2002 Report Abuse off n on
CatMan623 Champion Author Houston Posts:8,301 Points:1,344,175 Joined:Aug 2006	Message Posted: Mar 10, 2010 2:22:46 PM Ignore CatMan623 Report Abuse Get 'em all to Gamblers Anonymous. They're all addicted to gambling highs.