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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 17 cents to $59.43 on the New York Merc, while Brent for January lost 14 cents to $63.38 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.40 to WTI, down from a discount of $10.40. Natural gas for December added 12 cents to $4.35. The TSX energy index added 1.24 points to close at 291.08.

Oil sands giant Canadian Natural Resources Ltd. (CNQ) lost 57 cents to $44.44 on 13.2 million shares, after releasing its third quarter financials. Production of 1.62 million barrels was in line with analysts' predictions, while cash flow of $1.88 a share sharply exceeded predictions of $1.71 a share, although most of the excess looks to be the result of lower-than-expected cash taxes. (The company is in the process of closing its aging, non-core U.K. North Sea facilities because costs are outstripping revenue. During the quarter, the estimated closure costs were updated and increased, leading to a depreciation charge that reduced taxable income.)

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