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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery edged up three cents to $61.53 on the New York Merc, while Brent for June added 12 cents to $64.88 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.30 to WTI, up from a discount of $12.40. Natural gas for May lost 20 cents to $3.32. The TSX energy index added 1.42 points to close at 231.85.

Oil prices held their ground as traders tried to keep up with the latest tariff musings of U.S. President Donald Trump. Meanwhile, in its closely watched monthly report, OPEC cut its 2025 global oil demand forecast for the first time since December, citing tariff volatility and first quarter data. The group now expects demand to rise by 1.30 million barrels a day in 2025 (down 150,000 from last month's report) and 1.28 million barrels a day in 2026 (also down 150,000 from last month).

Canadian pipeline operator South Bow Corp. (SOBO: $32.67) remained in the news as it continued cleaning up a 3,500-barrel oil spill in North Dakota. The spill came from its Keystone pipeline, which carries 620,000 barrels a day of Canadian crude into the United States and has been shut down since the leak was detected last Tuesday. South Bow is "targeting restoration of service and energy deliveries" from Keystone tomorrow, said the company on its website.

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