TSX Riding Oil Prices Higher -- Canadian Commentary

(RTTNews) - Canadian stocks pushed higher Monday, extending recent gains as crude oil sustained last week's rally.

The S&P/TSX Composite Index rose 42.65 points, or 0.28%, to 15,095, led by energy and tech stocks.

U.S. crude oil settled near $52 a barrel after the controversial Dakota Pipeline project was denied federal permits.

Oil prices jumped 12% last week.

Alberta will offer $500 million in royalty credits to Pembina and Inter Pipeline for their petrochemical projects.

Precision Drilling Corp. plans to spend only $109 million on capital expenditures in 2017, about half compared to this year.