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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $1.46 to $83.36 on the New York Merc, while Brent for June added $1.42 to $88.42 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.70 to WTI, down from a discount of $13.80. Natural gas for May added two cents to $1.81. The TSX energy index added 1.44 points to close at 297.77.

The first shoots of the quarterly reporting season have sprouted in Canada's oil patch. Royalty company PrairieSky Royalty Ltd. (PSK) lost 41 cents to $27.04 on 1.44 million shares, after releasing its first quarter financials. (PrairieSky is not a direct oil and gas producer, but it collects royalties from producers across Western Canada, providing a useful barometer of industry activity.) The company touted royalty production of 26,000 barrels a day. While this slightly exceeded analysts' predictions of 25,700 barrels a day, it did not translate into higher-than-expected cash flow, which at 35 cents a share was slightly below analysts' predictions of 35 cents a share.

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