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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 82 cents to $62.55 on the New York Merc, while Brent for December added 80 cents to $66.25 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.10 to WTI, unchanged. Natural gas for November lost 16 cents to $3.33. The TSX energy index lost a fraction of a point to close at 292.56.

Oil prices edged higher amid Russia-Ukraine geopolitical tensions and mixed U.S. supply data. A senior Russian diplomat said efforts to reach a deal with Ukraine have largely stalled (in turn keeping international sanctions on Russian crude supplies in place). Meanwhile, in its latest weekly data release, the U.S. Energy Information Administration said U.S. crude inventories rose by 3.7 million barrels last week -- nearly double analysts' predictions of an increase of 1.9 million barrels. These bearish numbers were offset by larger-than-expected decreases in gasoline and distillate inventories.

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