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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added $1.12 to $42.87 on the New York Merc, while Brent for January added $1.29 to $46.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.90 to WTI ($27.97), up from a discount of $15. Natural gas for December lost one cent to $2.20. The TSX energy index added 3.41 points to close at 179.90.

Ryan Kubik's Canadian Oil Sands Ltd. (COS) added 28 cents to $8.82 on 6.69 million shares. President and chief executive officer Kubik presented yesterday at the UBS Energy 1x1 Conference in Boston, where he took shots at a hostile takeover offer from Suncor Energy Inc. (SU: $37.00), one of Canadian Oil Sands' joint venturers at the Syncrude oil sands project. The all-share offer sent Canadian Oil Sands' stock soaring to $9.60 from $6.19 on Oct. 5. Suncor was valuing the stock at just $8.65, based on both companies' closing prices on Oct. 5, but investors seemed confident in a higher bid from Suncor or a rival suitor. They are not at all confident now. Using today's prices, the offer values Canadian Oil Sands' stock at $9.25, above its close of $8.82.

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