The Financial Post reports in its Thursday edition that for Canada's oil and gas sector, 2024 is shaping up to be a tale of two commodities. Postmedia's Chris Varcoe writes that oil prices have marched higher over the past month while natural gas prices across North America continue to languish. Natural gas prices in North America remain weak due to high inventory levels and warmer-than-normal winter weather crimping demand. In Canada, a handful of companies have deferred gas drilling or have shifted spending to oil, while benchmark U.S. oil prices are up more than 20 per cent this year. In Canada, the price differential between West Texas Intermediate and Western Canadian Select heavy oil has been shrinking with the approaching start-up of the Trans Mountain expansion project. Some gas producers also are benefiting from higher oil prices due to their output of natural gas liquids. NuVista's Jonathan Wright pointed out that two-thirds of the company's production is natural gas, while two-thirds of its cash flow comes from condensate, which is tied to oil prices. "We're always going to have a bit of a weather lottery with natural gas, but it always solves itself because now we're seeing production moderate," he said.