Toronto stocks reversed an early loss as traders snapped up energy and technology shares Tuesday. The S&P/TSX composite index rose 67.01 points to finish at 8,622.24.

Toronto volume was 224 million shares, with advances leading declines 707 to 561.

Information technology shares led the way on the TSX, rising 2.16.%.

The energy sector rose 1.70% on higher oil prices after Saudi Arabia, OPEC’s biggest producer, threw its weight behind imminent supply cuts.

OPEC agreed at a February meeting to reduce output by 1 million barrels a day, starting April 1.

Ultra Petroleum added $1.45 to C$39.63. Nexen rose $1.78 to $50.76 while Imperial Oil gained $1.59 to $59.01.

Tech bellwether Nortel Networks added 37¢ to $8.10. After the markets closed Monday, Nortel postponed its April 29 annual shareholders meeting because of a previously announced delay filing of its 2003 financial statements. Nortel also said Export Development Canada has waived the right to terminate hundreds of millions of dollars in credit financing until late May.

Sierra Wireless gained $1.63 to $46.73 while Research In Motion gained $2.70 to $125.70.

Manitoba Telecom added 5¢ to $48.85. On Monday, the Toronto Stock Exchange said it is considering requiring MTS to let its shareholders vote on its proposed takeover of Allstream. The TSX will give its decision tomorrow.

The junior S&P/TSX Venture composite gained 5.67 points to close at 1,860.36.

On Wall Street, stocks ended at their highest levels in three weeks as traders looked ahead to the U.S. jobs report coming Friday.

The blue-chip Dow Jones industrial average rose 52.07 to 10,381.70, while the tech-heavy Nasdaq composite index added 8.06 points to 2,000.63. The broader S&P 500 gained 4.54 points to close at 1,127.01.