This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added 77 cents to $59.32 on the New York Merc, while Brent for February (new front month) added 79 cents to $63.17 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.50 to WTI, down from a discount of $12.60. Natural gas for January added seven cents to $4.92. The TSX energy index added a fraction of a point to close at 311.11.

Oil prices headed higher on geopolitical turmoil and a neutral OPEC+ announcement. At a closely watched meeting yesterday, OPEC+ reaffirmed its pause on output hikes for January, February and March, "due to seasonality." It maintained its overall confidence in "healthy oil market fundamentals." This echoes the language that the group has been using since April, when it began unwinding old production cuts (with about 2.9 million barrels a day unwound so far in 2025). The current view among analysts is that OPEC+ will not need to add any output in 2026 and may even need to cut back again if it wants prices to stabilize. Yesterday's meeting toed the everything-is-fine line, though with usual disclaimer that the group has "full flexibility to continue pausing or reverse" its hikes.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS