Toronto stocks reversed a three-session losing streak Wednesday, as a jump in oil prices sparked a broad-based rally.

The S&P/TSX composite index unofficially closed up 148.35 points, or 1.2%, at 12,427.94., its highest close since April.

Overall, nine of the 10 main TSX groups closed higher.

Today’s market’s advance was spearheaded by a 2.4% jump in the energy sector as U.S. supply data showed a larger than expected drawdown of distillates, including heating oil, last week.

The price of December crude contract on the New York Mercantile Exchange rose 48¢ to US$58.76 a barrel.

Shares in Suncor Inc. rose $1.29 to $88.68.

The TSX energy trust sector jumped 5.6% for the day.

The financial sector rose1.25% with Manulife Financial Corp. up 60¢ to $38.50 and CIBC ahead $1.59 to $91.75.

The metals and mines sector rose 1.4% after declining 2% Tuesday and 4% Monday.

The telecom sector was 0.5% higher as Ottawa called on the CRTC to end its efforts to regulate Internet phone services. Telus shares advanced $1.17 to $57.17.

The gold sector rose 0.35% with the December bullion contract on the Nymex down $1.50 to US$623.80 an ounce.

The S&P/TSX Venture composite index was up 16.65 points to 2,625.48.

The Canadian dollar close down 0.05 of a cent to US87.81¢.

U.S. stocks rose on Wednesday, pushing the Dow up to another record close and driving the S&P 500 and the Nasdaq to multiyear peaks.

The three major U.S. stock indexes ended off the session’s best levels after minutes from the Federal Reserve’s recent policy-setting meeting said cutting inflation was the central bank’s greatest concern.

The Dow Jones industrial average gained 33.70 points, or 0.28%, to end at a record 12,251.71. The S&P 500 added 3.35 points, or 0.24%, to finish at 1,396.57. The Nasdaq composite index rose 12.09 points, or 0.50%, to close at 2,442.75.

During the regular session, the Dow hit a lifetime intraday high at 12,291.73, while the S&P 500 climbed as high as 1,401.35, its highest level in six years, and the Nasdaq rose to 2,452.56, its highest mark in almost six years.