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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added $1.84 to $59.91 on the New York Merc, while Brent for July added $1.72 to $62.84 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.20 to WTI, down from a discount of $11.30. Natural gas for June lost three cents to $3.59. The TSX energy index added 6.74 points to close at 246.70.

Energy investors were swamped by another flood of first quarter financials. It was smooth sailing for two of Canada's largest oil sands producers, namely Canadian Natural Resources Ltd. (CNQ), up $2.00 to $41.82 on 21.6 million shares, and Cenovus Energy Inc. (CVE), up $1.49 to $17.78 on 18.7 million shares. At Canadian Natural, production of 1.58 million barrels a day and cash flow of $2.15 a share exceeded analysts' predictions of 1.55 million barrels a day and $1.97 a share. President Scott Stauth boasted that the company's "constant focus on continuous improvement" has put in "in a position to reduce our 2025 capital budget by $100-million ... [with] no impact on our planned operating activities or targeted production levels."

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