• TSX ends up 0.1% at 26,426.64
• Eclipses Monday's record closing high
• Energy adds 1.5% as oil settles 1.4% higher
• Uranium stocks rally, with Energy Fuels up 14.4%

June 3 (Reuters) - Canada's main stock index edged up to a new record high on Tuesday, led by gains for the energy sector, as oil prices climbed and uranium producers notched gains.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 37.68 points, or 0.1%, at 26,426.64, eclipsing Monday's record closing high.

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U.S. stock indexes also closed higher as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans.

"The TSX is a very attractive market right now for investors," said Philip Petursson, chief investment strategist at IG Wealth Management. "If you want to hedge some of the risks that you see in the United States on the political side, the TSX is well-positoned for that."

The Toronto market has benefited in recent months from safe-haven demand for gold. The materials group, which includes gold mining shares, accounts for 13% of the TSX's weighting, while energy accounts for an even larger share, at 17%.

Energy added 1.5% on Tuesday as the price of oil settled 1.4% higher at $63.41. Persistent geopolitical tensions looked set to keep sanctions on both OPEC+ members Russia and Iran in place for longer.

"Any time oil prices are up that's a significant positive for the TSX," Petursson said.

Wildfires burning in Canada's oil-producing province of Alberta have affected more than 344,000 barrels per day of oil sands production, or about 7% of the country's overall crude oil output, according to Reuters calculations.

Uranium stocks rose after social media platform operator Meta Platforms (META.O) , opens new tab struck an agreement with Constellation Energy (CEG.O) , opens new tab to keep one of the utility's reactors in Illinois operating for 20 years. Shares of Energy Fuels Inc jumped 14.4%.

The utilities group also notched gains, rising 1.1%, with Algonquin Power & Utilities Corp (AQN.TO) , opens new tab up 16%. Consumer staples was a drag, falling 1.2%.

https://www.reuters.com/world/americas/tsx-futures-slip-trade-tensions-rise-uncertainty-lingers-2025-06-03/