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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added $6.35 to $81.01 on the New York Merc, while Brent for May added $4.01 to $85.41, both benchmarks hitting their highest levels since July, 2024, amid continuing U.S.-Israeli-Iranian hostilities (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.60 to WTI, down from a discount of $13.90. Natural gas for April added eight cents to $3.00. The TSX energy index added 3.30 points to close at 378.46.

While oil prices soared, Canadian energy investors waded through a flood of quarterly financials, guidance updates and more. They got a drenching from Mike Rose's Tourmaline Oil Corp. (TOU), which lost $4.25 to $61.89 on 9.29 million shares, as low gas prices weighed on its outlook. (An "Oil"-y name belies its status as Canada's largest gas producer.) The financials were generally close to or better than analysts' predictions, with fourth quarter production of 659,200 barrels a day and cash flow of $2.29 a share (against predictions of 659,000 and $2.21). This was overshadowed by a $400-million budget cut for 2026 and a $215-million reduction to projected free cash flow.

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