Canadian stocks had another volatile day on Wednesday after the U.S. Federal Reserve said it may raise the discount rate 'before long' and a German lawmaker said the European Union is unlikely to announce an aid package for Greece very soon. The S&P/TSX Composite Index closed 12.09 points, or 0.11 percent, higher to 11,286.33 on Wednesday. Crude oil futures turned higher after the U.S. Energy Information Administration announced at noon it still expects crude prices to increase this year and next. Crude oil futures closed up 0.96 percent at 74.46 U.S. dollars a barrel. Energy and basic material stocks were among the worst performers for the day. Suncor Energy dropped 1.88 percent after downgraded by a research analyst on concerns of its recent fire accident. Teck Resources, Canada's biggest metal producer, decreased 2.01 percent. Talisman Energy fell 1.11 percent. Gold futures lost 0.10 percent at 1076.10 U.S. dollars an ounce on Wednesday. Raw materials account for about half of Canada's export revenue. Goldcorp Inc. decreased 0.39 percent. Kinross Gold Corp. reduced 0.80 percent. Financials are higher. All six largest banks rose. Royal Bank of Canada rose 1.75 percent. Bank of Nova Scotia advanced 1.62 percent. Bank of Montreal gained 1.34 percent. Weaker trade data also weighed down on Canadian stocks earlier in the day. According to Statistics Canada on Wednesday, Canada's imports rose 1.8 percent in December as exports increased 1.7 percent. This further expands the Canadian trade deficit. Canadian dollar advanced to a one-week high against its U.S. counterpart as stocks and crude oil erased losses, reviving demand for currencies tied to economic growth. The loonie fell earlier when stocks and crude oil dropped after the negative announcement from Mr. Bernanke, Chairman of the U.S. Fed, and the headline news in Germany. It revised the loss together with equity and oil later in the day. One U.S. dollar was purchasing 1.0620 Canadian dollars at 5 p.m. local time (2200 GMT), compared with one U.S. dollar buying 10.661 Canadian dollars on Tuesday. The Canadian dollar tends to track swings in stocks and commodity prices. 