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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery shot up $9.89 to $90.90 on the New York Merc, while Brent for May added $7.28 to $92.69 (all figures in this para U.S.). Both benchmarks notched a weekly gain -- and what a week it was, with U.S.-Israel-Iran hostilities in the Middle East giving prices their largest one-week percentage increase on record, at 35 per cent for WTI and 28 per cent for Brent. Western Canadian Select traded at a discount of $17.30 to WTI, up from a discount of $20.60. Natural gas for April added 18 cents to $3.18. The TSX energy index lost 1.27 points to close at 377.19.

Pipeline giant South Bow Corp. (SOBO: $45.47) has launched an open season to gauge interest in a proposal to carry more oil from Alberta to U.S. markets -- reminiscent, perhaps, of the ill-fated Keystone XL proposal. South Bow (which was spun out in 2024 from TC Energy Corp. (TRP: $86.59), the original Keystone XL proponent) operates the existing Keystone network from Alberta through the U.S. Midwest and into the Gulf Coast; the proposed XL expansion would have boosted capacity and added a more direct Gulf Coast leg. The proposal won Canadian government approval in 2010, but was repeatedly killed, revived and killed again by successive U.S. governments, until TC Energy had enough and cancelled it in 2021. Whether South Bow is attempting another revival remains unclear. Today's announcement was scarce on details about size, route or timing.

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