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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $4.22 to $92.35 on the New York Merc, while Brent for May added $4.55 to $104.49 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.20 to WTI, down from a discount of $6.20. Natural gas for April added five cents to $2.94. The TSX energy index added 7.03 points to close at 414.78.

Oil prices resumed their climb, with Brent re-entering triple digits, on conflicting signals about the U.S.-Israel-Iran war raging in the Middle East. U.S. President Donald Trump continued to claim that he is in talks for a quick resolution and a reopening of the Strait of Hormuz. That is at odds with statements from Iran's government, which has kept the strait gridlocked, although it suggested today that "non-hostile" ships -- ones not linked to the United States are Israel -- may be allowed passage.

The foreign turmoil is fuelling the Canadian pitch for more pipelines. "The demand for Alberta oil has never been higher," intoned Alberta Energy and Minerals Minister Brian Jean in a statement from his office. "... We have a goal of doubling our oil production to eight million barrels per day by 2035, [and] to do this we need more pipelines, especially to our West Coast." The statement from Mr. Jean's office came as Alberta Premier Danielle Smith made the same case in Houston, Tex., at the CERAWeek energy conference. "Alberta's message at CERAWeek is clear: We want to build new pipelines ... without delay, without hesitation," she posted on social media.

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