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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost 46 cents to $56.09 on the New York Merc, while Brent for January lost 50 cents to $62.22 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.60 to WTI ($40.49), up from a discount of $15.20. Natural gas for December closed down five cents to $3.05. The TSX energy index fell 3.47 points to 188.36.

TransCanada Corp. (TRP) gained 97 cents to $63.51 on 4.55 million shares, after receiving the last regulatory approval needed for its Keystone XL pipeline: approval from the Nebraska Public Service Commission (PSC). Today, the PSC voted 3-2 in favour of the pipeline, although it approved the mainline alternative route, rather than TransCanada's preferred route. Nevertheless, the alternative is only five miles longer (280.5 miles through Nebraska, rather than 275.2), with one additional pumping station. President and chief executive officer Russ Girling says the company will assess the pipeline's cost and schedule based on the approved alternative route. Last week, Global News reported that according to TransCanada, deviating from the preferred route would add "millions of dollars" to the project's cost. This would still represent just a fraction of the project's current estimated cost of $8-billion (U.S.).

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