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 March delivery shot up $2.86 to $65.19 on the New York Merc, while Brent for April added $2.93 to $67.42, rising on concerns that escalating U.S.-Iranian tensions will disrupt Middle Eastern oil supplies (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.60 to WTI, down from a discount of $15.30. Natural gas for March lost two cents to $3.01. The TSX energy index added 8.11 points to close at 361.91.

The oil patch marched into midweek with a multibillion-dollar deal. Cross-border shale producer Ovintiv Inc. (OVV) added $4.38 to $67.19 on 1.12 million shares, after reaching an agreement to sell its roughly 90,000-barrel-a-day Anadarko assets in Oklahoma for $3-billion (U.S.). It did not disclose the buyer. The sale keeps a promise that Ovintiv made in November, when it announced an Alberta Montney expansion via the proposed takeover of NuVista Energy (in a $2.7-billion (U.S.) deal that closed earlier this month) and said it would put its Oklahoma assets up for sale in order to reduce debt.

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