This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added $1.71 to $79.97 on the New York Merc, while Brent for May added $1.64 to $83.55 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.50 to WTI, up from a discount of $18.50. Natural gas for April lost two cents to $1.84. The TSX energy index added 5.15 points to close at 268.26.

Oil prices notched a weekly gain (with WTI briefly topping $80 (U.S.) for the first time since November), amid expectations that OPEC+ will soon announce an extension to its voluntary supply cuts. These are currently set to expire on March 31. While the next formal meeting of the OPEC+ monitoring committee is not scheduled until April 3, there is rising chatter that members will actually meet next week to consider extending the cuts, possibly to the end of the year.

Here in Canada, oil sands producer MEG Energy Corp. (MEG) added 29 cents to $29.34 on 6.51 million shares, after appointing a new president and chief executive officer and releasing its year-end financials. Current president and CEO Derek Evans is stepping down on May 1. Succeeding him will be Darlene Gates, MEG's chief operating officer since 2021.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS