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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $3.40 to $94.69 on the New York Merc, while Brent for June added $3.36 to $98.29 (all figures in this para U.S.). Western Canadian Select traded at a discount of $24.30 to WTI, down from a discount of $20.90. Natural gas for May added four cents to $2.65. The TSX energy index added 3.98 points to close at 400.37.

Canadian pipeline giant Enbridge Inc. (ENB: $71.99) has received nine U.S. presidential permits aimed at facilitating cross-border oil transportation, according to documents released by the White House. All of the permits involve pipeline facilities at various points along the U.S.-Canadian border. Eight of them are for maintenance and expanded capacity at existing cross-border pipeline facilities, while the most eye-catching one grants permission to build and connect a new pipeline extending from Burke county, North Dakota.

The permits appear related to Enbridge's previously announced Mainline optimization project, a series of staged expansions to its existing Mainline cross-border network to move an extra 400,000 barrels a day by late 2028. Enbridge sanctioned the $1.4-billion (U.S.) first phase of this project in November. Today it did not even mention the presidential permits, suggesting that they were all but a forgone conclusion in the company's view.

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