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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added six cents to $49.62 on the New York Merc, while Brent for June lost 28 cents to $51.82 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.35 to WTI ($39.27), unchanged. Natural gas for May added 10 cents to $3.14. The TSX energy index lost 2.13 points to close at 197.54.

Cenovus Energy Inc. (CVE) lost 25 cents to $14.01 on 6.85 million shares, after releasing its first quarter financials. These showed net income of $211-million, compared with a loss of $118-million in the same period last year. The improvement reflected unrealized risk management gains of $279-million, as well as lower operating losses, which came to five cents a share rather than the eight cents a share that analysts had predicted. Analysts had also predicted cash flow of 43 cents a share, but the actual number fell below those predictions at 39 cents a share. Production was in line with predictions at about 295,000 barrels of oil equivalent a day.

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