The Toronto Stock Exchange’s main index powered ahead almost 2% on Thursday, led by surging resource issues as the price of oil strengthened.

The S&P/TSX composite index rocketed up 292.45 points, or 1.99%, to finish at 14,982.91, with all but one of its 10 main sectors advancing.

The TSX energy sector surged 4% as crude oil for July delivery closed at US$127.79 a barrel on the New York Mercantile Exchange, its strongest closing level since May 28.

The contract gained US$5.49, or 4.5%, for the session, recouping more than US$5.46 it lost in the preceding two sessions.

In Toronto, Canadian Natural Resources jumped $6.24, or 6.4%, to $103.64, while Canadian Oil Sands Trust gained $2.44, or 5%, to $51.46.

The TSX materials sector added 3.3%. Barrick Gold rose $1.51, or 3.8%, to $41.17, and Inmet Mining advanced $1.85, or 2.7%, to $69.40.

Gold for August delivery closed US$8.30 lower at US$875.50 an ounce on the Nymex. The contract has now lost a total of $21.50 in three trading sessions.

The junior S&P/TSX Venture composite index added 14.06 points, or 0.53%, to 2,656.63.

The Canadian dollar closed out at US98.25¢.

In New York, U.S. stocks rose the most in more than a month after U.S. retailers posted stronger-than-expected May sales and data showed a surprising fall in weekly jobless claims,

The Dow Jones industrial average rose 213.97 points, or 1.73%, to close at 12,604.45, while the S&P 500 gained 26.85 points, or 1.95%, to 1,404.05. The tech-heavy Nasdaq composite index jumped 46.80 points, or 1.87%, to finish the day at 2,549.94.

For the Dow and the S&P, it was the best daily%age change since mid-April, while it was the Nasdaq’s best day since May 1.