Toronto stocks closed higher for the third straight session Wednesday as higher commodity prices buoyed resource issues. The S&P/TSX composite index closed up 19.80 points, or 0.22%, at 9,106.16.

Volume was 297 million shares. It was the highest close for the index since Feb. 7, 2001.

Strong commodity prices coupled with merger news in the United States, helped the index overcome steep declines in the tech sector.

Research In Motion and Nortel Networks dragged the TSX technology group 2.91% lower, with RIM shares down $4.00, or 3.8%, at $101.00, and Nortel off 29¢, or 6.3%, at $4.30.

Six of the TSX index’s 10 main groups ended higher, led by a 1.52% hike in the energy index and a 0.67% in industrials.

Oil prices surged almost 6% as the U.S. government reported a drop in heating oil stocks amid a blast of winter weather in the Northeast.

Materials rose 0.59% while telecoms added 0.52%.

Gold prices rose as the greenback fell and Toronto’s gold sector gained 1.05%.

The junior S&P/TSX Venture composite index advanced 1.30 points to 1,723.09.

U.S. stocks ended higher Wednesday as merger-related optimism sparked by Sprint’s acquisition of Nextel and robust results from Lehman Bros. fueled year-end buying.

Session gains came amid a spike in oil prices and a fresh slide for the dollar.

The Dow Jones industrial average ended up 15 points, or 0.14%, at 10,691.45,

The Nasdaq composite index rose 2.71 points to 2,162.55, while the S&P 500 Index climbed 2.34 points to end at 1,205.72.