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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added 70 cents to $58.65 on the New York Merc, while Brent for January added 65 cents to $63.13 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.30 to WTI, down from a discount of $11.80. Natural gas for January added seven cents to $4.55. The TSX energy index added a fraction of a point to close at 306.09.

Oil prices headed higher as uncertainty about Russia-Ukraine peace talks outweighed bearish U.S. supply data. In its latest weekly data release, the U.S. Energy Information Administration (EIA) reported that U.S. crude inventories shot up by 2.8 million barrels last week. Analysts were expecting a barely noticeable increase of just 55,000 barrels.

Here in Canada, Terry Anderson's Montney-focused ARC Resources Ltd. (ARX) slipped 10 cents to $24.46 on 6.68 million shares, even as it worked the dog-and-pony circuit both in person and on-line. Chief financial officer Kris Bibby "unpack[ed] key learnings" in a TD Cowen podcast that was highlighted in a research note this morning by TD analyst Aaron Bilkoski. The podcast, recorded last week while ARC was in New York for the TD North American Energy Conference, served as a beauty pageant for ARC to parade its assets, even (especially) the ones in need of a glow-up.

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