The Toronto S&P/TSX composite index slipped 11.06 points Thursday to close at 8,1769.43. This accorded with most of the main North American markets, as oil prices hit a new all-time high. Rising U.S. inflation data also heightened concern over hikes to interest rates.

Six of the TSX’s 10 subgroups finished lower on Thursday. The materials sector was the weakest as Barrick Gold fell 36¢ to $25.82. Alcan lost $1.08 to $52.76 and Noranda fell 24¢ to $20.45.

The health-care sector fell 0.69%, while techs dropped 0.46% and industrials slipped 0.12%.

The energy and financial services groups both edged up 0.03%. Telecoms and consumer staples also rose

The market was hurt by another rise in oil prices. Crude oil marked for June delivery on the New York Mercantile Exchange headed 31¢ higher to US$41.08 US a barrel today, the second consecutive day it has topped the previous record set in Oct. 1990, during the first Gulf War. Traders blame the spike on concerns over gas supplies as we head into the summer driving season.

Meanwhile, the U.S. Labor Department reported that producer prices rose 0.7% in April, the largest increase in a year, propelled by higher gasoline costs and the biggest jump in dairy-product prices since 1946. The April increase followed a 0.5% rise in March.

The TSX Venture Exchange fell 18.21 today, closing at 1,546.25.

In New York, the Dow Jones industrials average lost 34.42 points at 10,010.74. The Nasdaq was flat, edging up 0.44 point to 1,926.03, while the S&P 500 index slid a mere 0.81 point to 1,096.47.