Oil gains on talk of OPEC production restraint

Crude oil futures surged almost threeper cent Monday following a report in the Wall Street Journal that saidsome OPEC members had called for restraint onoutput.

Oil futures gained$1.22US to settle at $43.02US a barrelin New York trading.

• U.S. economy adds255,000 jobs in July

The bullish moodwas further boosted by astatement from Qatar's energy minister, whosaid oil prices are expected to rise in the latter part of 2016, Bloomberg said.

Jenna Delaney, a senior energy analystat Bentek Energy in Denver, said the rise in oil futures was"based on sentiment rather than fundamentals," noting thatOPEC has been supplying well above itsproduction ceiling for the entire year.

"Seeing any positive news in the market with [oil] prices having come off so rapidly over the past couple of weeks is going to spark some enthusiasm and some upward support," she told CBC News.

TSX at 13-month high

The energy group led theToronto Stock Exchange solidly higher.

In Toronto, the S&P/TSX composite index was up 107points to close at 14,756. That's its highest closesince June 26, 2015.

The Dow Jones industrial average closeddown 14points at 18,529.

U.S. markets setnew highs last week following a strongU.S. jobs report on Friday.