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Energy Summary for Nov. 30, 2022

2022-11-30 20:27 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added $2.35 to $80.55 on the New York Merc, while Brent for January added $2.40 to $85.43 (all figures in this para U.S.). Western Canadian Select traded at a discount of $29.07 to WTI, unchanged. Natural gas for January lost 31 cents to $6.93. The TSX energy index lost 2.41 points to close at 259.58.

Canada's main oil province was in a pensive mood as Alberta Premier Danielle Smith introduced her controversial sovereignty act, seeking broad powers for the province to stand up to what she sees as a meddlesome Ottawa. The act, formally titled the Alberta Sovereignty Within a United Canada Act, fulfills a promise that Ms. Smith made during her leadership campaign. It is also much more expansive than previously indicated. Among other things, it would give the provincial cabinet the ability to rewrite laws without legislative debate, and would allow the cabinet to order government agencies, police, cities and more to ignore federal laws deemed "harmful" to the province.

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