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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added 82 cents to $63.21 on the New York Merc, while Brent for March added 83 cents to $68.40 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.10 to WTI, up from a discount of $17.50. Natural gas for February was back on a tear, adding 51 cents to $7.46 and setting a 4-1/2-year high. The TSX energy index added 3.39 points to close at 333.48.

Oil prices headed higher on bullish U.S. supply data and a weaker U.S. dollar. In its latest weekly data release, the U.S. Energy Information Administration reported that U.S. crude inventories decreased by 2.3 million barrels last week. Analysts were expecting an increase of 1.8 million barrels. Meanwhile, the U.S. dollar stabilized after hitting four-year lows yesterday, but is still down by about 10 per cent over the last year. (A weaker greenback makes oil cheaper in other currencies, boosting demand.)

Amid all the U.S. supply and currency news, it was a rare CanCon day for conference-trotting energy investors in Europe. Numerous Canadian energy executives jetted to England for today's inaugural "Canada Energy Comes to London" Conference hosted by RBC Capital Markets. Participating companies include Canadian Natural Resources Ltd. (CNQ: $50.23), Suncor Energy Inc. (SU: $71.80), Whitecap Resources Inc. (WCP: $12.63), Tamarack Valley Energy Ltd. (TVE: $9.48) and more -- with, it is safe to assume, an outpouring of boosterish research notes on the way.

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