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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 81 cents to $61.69 on the New York Merc, while Brent for December added 94 cents to $65.47 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.30 to WTI, up from a discount of $11.90. Natural gas for November added three cents to $3.32. The TSX energy index added 3.90 points to close at 291.42.

Oil prices rose on a smaller-than-expected OPEC+ production hike. At its closely watched monthly meeting yesterday, OPEC+ said it would increase production by 137,000 barrels a day in November, the same modest hike as in October. Traders were relieved, having braced themselves last week for a rumoured increase of half a million barrels a day.

Tony Marino's Tenaz Energy Corp. (TNZ) hurtled up $6.43 to $26.73 on 774,100 shares, tantalizing investors with a $339-million European gas acquisition, with no closing risk because the deal is already complete. Tenaz announced this morning that it has acquired sizable minority interests in five large offshore gas interests in the North Sea, right along the Dutch-German nautical boundary. Three of the licences are on the Dutch side and two are on the German side. Net production is estimated at 3,200 barrels of oil equivalent a day (99 per cent gas) for 2025, jumping to 7,000 barrels a day for 2026.

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