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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added eight cents to $57.54 on the New York Merc, while Brent for December added 23 cents to $61.29 (all figures in this para U.S.). Despite eking out a gain today, both benchmarks ended the week down, their third weekly decline in a row. Western Canadian Select traded at a discount of $11.30 to WTI, down from a discount of $9.90. Natural gas for November added seven cents to $3.00. The TSX energy index lost a fraction of a point to close at 275.21.

It was a quiet news day in the oil patch. Brian Schmidt's Tamarack Valley Energy Ltd. (TVE) added nine cents to $6.03 on 3.99 million shares, as it ended the week with a nod of approval from S&P Global. The credit rating agency has upgraded Tamarack to B+ from B and reiterated its outlook of "stable." The new rating, which is four steps into junk territory rather than five, reflects Tamarack's progress in reducing its debt to an estimated $765-million at the end of 2025 from $1.1-billion at the end of 2023, said S&P analyst Laura Schemitsch. She expects the company to hit its debt target of $500-million in 2027.

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