The Toronto stock market closed above 15,000 Tuesday as oil prices hit a record high and energy stocks flourished.

Despite the record numbers, just three of the 10 major TSX groups posted gains, as the the S&P/TSX composite index closed up 63.14 points, or 0.42%, at 15,047.34.

The heavyweight energy sector pushed markets higher by closing up 3.13%.

Crude oil for June delivery closed, up US$2.02, at US$129.07 a barrel on the New York Mercantile Exchange after hitting a record high of US$129.60 in electronic trading.

Connacher Oil and Gas Ltd. shares closed up 26¢, or 5.53%, at $4.96.

Shares in market heavyweight Encana Corp. closed up $1.75, or 1.86%, at $95.95 and Suncor Energy Inc. shares gained $4.84, or 7.17%, to end at $72.37.

The materials group closed up 0.58%, while the gold sub-index climbed 2.73%.

The June gold contract gained US$14.40 to end at US$920.20 an ounce on the New York Mercantile Exchange.

Kinross Gold Corp. shares closed up 50¢, or 2.42%, at $21.16 and Goldcorp Inc. stock closed up $1.34 or 3.24%, at $42.65.

Meanwhile, the financials group was a weak spot today, closing down 1.15% for the day.

Bank of Montreal shares fell $1, or 2%, to close at $48.97, while CIBC shares closed down $1.71, or 2.28%, at $73.41.

Among individual stocks, shares of BCE Inc. fell sharply after reports of potential banking problems with the $52 billion takeover of the company. BCE shares fell $1.42, or 3.66%, to end at $37.40.

The junior S&P/TSX Venture composite index closed up 49.82 points, or 1.91%, at 2,661.14.

The Canadian dollar closed out at par with the greenback today.

In New York, markets were hit hard by the combination of high oil prices and news of rising inflation.

The Dow Jones industrial average closed down 199.48 points, or 1.53%, at 12,828.68.

The S&P 500 shed 13.17 points, or 0.92%, to close at 1, 413.40.

The tech-heavy Nasdaq composite index sank 23.83 points, or 0.95%, to close at 2,492.26.

The U.S. Labour Department reported wholesale inflation of 0.2% for April, but excluding the more volatile food and energy prices, it rose 0.4% for the month, which was double what economists were expecting.

In corporate news, Home Depot Inc. reported Q1 profit fell 66%, to US$356 million.