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by Stockwatch Business Reporter

U.S. markets were closed for American Thanksgiving. West Texas Intermediate crude for January delivery added 45 cents to $59.10 in electronic trading on the New York Merc, while Brent for January added 21 cents to $63.34 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.10 to WTI, up from a discount of $13.30. Natural gas for January added eight cents to $4.63. The TSX energy index added a fraction of a point to close at 307.21.

Markets drifted through a slow session -- the U.S. Thanksgiving feast reliably puts the TSX into a stupor -- but a keenly awaited announcement from Ottawa snapped the news cycle to attention. Today, Prime Minister Mark Carney and Alberta Premier Danielle Smith unveiled a memorandum of understanding (MOU) to "strengthen federal-provincial collaboration in the energy sector to achieve net zero emissions by 2050 [and] unlock the full potential of Alberta's energy resources." A centrepiece of the MOU is that Ottawa will "provide a clear and efficient approval process" for the construction of a new, one-million-barrel-a-day bitumen pipeline.

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