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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added $1.76 to $62.39 on the New York Merc, while Brent for March added $1.98 to $67.57, rallying on winter weather disruptions and ever-present geopolitical jitters (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.50 to WTI, down from a discount of $15.20. Natural gas for February added 15 cents to $6.95, shaking off some profit-taking this morning and continuing its climb. The TSX energy index added 3.53 points to close at 330.09.

On a fairly quiet Tuesday in the oil patch, investors continued to watch for potential changes in ownership of the LNG Canada export facility in Kitimat, B.C. Rumours began swirling earlier this month that Shell and Mitsubishi, two of the owners of what became Canada's first LNG (liquefied natural gas) export terminal upon start-up last summer, are looking at selling part of their 40- and 15-per-cent interests. A Globe article this morning quoted sources as saying that the two companies would use the sale proceeds in part to pay for a planned phase 2 expansion of LNG Canada. This expansion has already been added to Ottawa's list of major national-interest projects to be considered for fast-tracking, but the existing joint venturers have yet to make a final investment decision (FID).

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