Canada’s main stock index rallied for a second week as the price of crude rose to its highest level in nearly two months.
| The S&P/TSX composite index closed up 92.61 points, or 0.6 per cent, at 15,303.83.
| The energy sector rose 0.75 per cent as oil prices rose about 3 per cent. Suncor gained 2.3 per cent, Encana was up 1.5 per cent and Cenovus Energy gained nearly 1 per cent.
| Oil prices jumped about 3 per cent on Friday, rising after OPEC detailed specifics on its production-cut activity to ease global oversupply, and on signs of progress in ending the U.S.-China trade war.
| Brent crude was up $1.52 to settle at US$62.70 a barrel, or 2.48 per cent. U.S. West Texas Intermediate (WTI) crude futures added $1.73 to settle at US$53.80 a barrel, or 3.32 per cent. The futures benchmarks posted their third straight week of gains, rising about 4 per cent since the close since the previous Friday.
| The Organization of the Petroleum Exporting Countries released a list of oil production cuts by its members and other major producers starting on Jan. 1 2019 to boost confidence in its oil supply reduction pact.
|  | | | More stories below advertisement | | | | Recent articles from Inside the Market | | | | The volatility that rocked the markets last year gives little indication of easing any time soon. Here’s what you need to know to protect and grow your money in the new year.
| | | | | |
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/54L7HGY5BJBBPER7ZJGQQCTAOA.jpg "The close: Canada’s stock market rallies for a second week as crude hits two-month high")
The close: Canada’s stock market rallies for a second week as crude hits two-month high 
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/I6IG44MOF5FW3ANP2BIKQ2HBF4.JPG "Broken blue chips: Manulife and Power fight to shake off the effects of a crisis")
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/YEYOM36RJRHIRDTP2Q5FTRNIOQ.JPG "Ghosn may have had questionable ethical standards, co-chair of external Nissan probe says")
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/THDIOXHUMBGKZLCYWEQR7MENP4.JPG "Market predictions, dividend darlings and lessons from Canada’s biggest pension: Your guide to investing in 2019")
