In Toad one can easily execute current line without highlighting it. Let say, you have a worksheet like this:
select * from item -- cursor here
select * from p
Actually the best option is mentioned here :
http://forums.allroundautomations.com/ubb/ubbthreads.php?ubb=showflat&Number=46683
1) Press Ctrl-F8 when the cursor is on the statement. Now only the current statement is executed. You can assign a different key through the preferences (Tools > Preferences > Key Configuration > "SQL Window: Execute current statement").
2) Enable the "AutoSelect statement" preference (Tools > Preferences > SQL Window). Now the standard execute function will automatically select the current statement under the cursor and execute it. To execute multiple statements you now have to explicitly select them first in the editor, or use Ctrl-F8.