The TSX hit an all-time high of 14695.75 at 11:45 a.m. At 10:00 a.m., it was on its way to a session low of 1386.20 before rising alongside crude oil. Most recently, the TSX was up 171.53 to 14692.72. The TSX surge coincided with Nymex's as oil started to rise again following a drop to a session low of $123.86 at 8:00 a.m. EDT.

However, commodities and energy prices were generally down on Monday. Nymex's initial $126.20 peak was reached on Sunday evening and began declining soon thereafter. WTI was down $0.16 to $125.80. Natural gas was down $0.033 to $11.504 mmbtu. Gasoline was down one cent to $319.12 per gallon. Heating oil was likewise down 2.66 cents to $360.94 per gallon

Phil Flynn from Alaron Energies wrote of oil's momentum these past few days.

"Technically the next target is $130 but the key to hitting that level soon will be the news. The bulls must be fed every day with bullish stories to continue to justify these lofty levels," he wrote to clients in his energy report. "Today reports of a 7.5 earthquake in China are shaking things up and the oil market seems to be on shaky ground not because of the earthquake but because of the relentless rally from the dollar. It is showing some strength and that may pressure us unless we get that bullish headline."

Stock markets around the world were generally up along with the TSX. In the U.S., the Dow Jones Industrial Average was up 98.27 points to 12844.15. The S&P 500 was up 9.64 to 1397.92. The Nasdaq was also up 29.56 points to 2475.08.

In the UK, the FTSE 100 was up 15.90 points to 16220.60. In Europe, the Eurostoxx was up 11.00 to 3239.33 and the German DAX was also up 32.76 to 7035.95.

All data taken at 11:55 a.m. EDT.

By Ryan Szporer, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Cristina Markham, This email address is being protected from spam bots, you need Javascript enabled to view it