TORONTO (Bloomberg) - Canadian stocks fell for the fourth time five days, on concern demand for Canada's energy exports may decline, as crude-oil price climbed above $110 a barrel and US fuel supplies rose more than expected.

Suncor Energy Inc. led the decline. Financial shares gained for a second day, led by Power Corp. of Canada. Nortel Networks Corp. advanced after announcing the launch of new network technology. Yellow Pages Income Fund rose after analysts recommended buying the directories publisher.

The Standard & Poor's/TSX Composite Index slipped 47.18, or 0.4 percent, to 13,297.35 in Toronto. Yesterday the benchmark rose 2.6 percent after the US Federal Reserve said it would lend as much as $200 billion to banks to ease a liquidity crunch and avert debt defaults choking off economic growth.

"There are a lot of cross currents after yesterday," said Paul Hand, managing director of equity trading at RBC Capital Markets in Toronto. "It often takes a few days to sort itself out.

"People who wanted to sell and didn't panic may have been selling today. The market will probably be okay for a few months but then the issue will be 'how long a recession it will be'. "

Crude-oil futures climbed to a record $110.20 a barrel in New York after falling earlier in the session. The US dollar weakened to an all-time low versus the euro, prompting investors to purchase commodities as a hedge against the sliding currency.

Suncor, the world's second-biggest oil-sands miner, dropped C$1.83 to C$105.13. Canadian Oil Sands Trust, lead partner in the biggest tar-sands miner, fell C$1.32 to C$41.98. Canadian Natural Resources Ltd. retreated C$1.58 to C$72.14.

Petrobank Energy and Resources Ltd., an oil and gas company developing an oil-sands extraction technology, fell C$4.38, or 8.2 percent, to C$49.06, the most in seven weeks, after reporting a 10-fold increase in quarterly profit.

"The key disappointment" is that an independent engineering firm said more data will be needed before it can factor Petrobank's THAI extraction process into the company's reserves, Desjardins Securities analyst Adam Zive wrote in an e-mailed note.

Crude oil stockpiles in the US climbed 6.18 million barrels to 311.6 million in the week ended March 7, the Energy department said. A 1.68 million-barrel gain was forecast, according to the median of responses in a Bloomberg News survey.

Gasoline inventories rose to the highest since 1993.

A measure of energy stocks fell one percent after rising 2.2 percent on Tuesday. A gauge of financial shares added 0.3 percent, building on yesterday's 2.3 percent gain.