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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery (new front month) added $1.49 to $58.01 on the New York Merc, while Brent for February added $1.60 to $62.07 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.80 to WTI, down from a discount of $13.40. Natural gas for January lost two cents to $3.96. The TSX energy index added 2.90 points to close at 290.79.

Oil prices started the shortened holiday week with a startled jump. The U.S. government intensified its conflict with Venezuela over the weekend, intercepting another China-bound oil tanker off the Venezuelan coast. Prices also got a boost from escalating tensions between Russia and Ukraine after Ukrainian drones attacked Russian ships and piers.

Here in Canada, Baytex Energy Corp. (BTE) edged up two cents to $4.31 on 12.2 million shares, as it pulled a pile of updates from its Christmas sack. Having closed the sale of all of its U.S. Eagle Ford assets (representing more than half of its production) late Friday to become a Canada-only producer, Baytex unveiled 2026 guidance and a three-year outlook this morning. It also got itself a new president.

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