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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added $1.68 to $82.72 on the New York Merc, while Brent for May added $1.55 to $86.89 (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.40 to WTI, down from a discount of $15.60. Natural gas for April added four cents to $1.70. The TSX energy index added 2.35 points to close at 276.16.

Oil prices started the week by setting a fresh four-month high, on concerns about tightening supplies. Over the weekend, Ukraine continued its drone strikes on Russian energy infrastructure, causing a fire at another Russian oil refinery. A research note from SPI Asset Management suggested that the attacks have disrupted up to 15 per cent of Russian refining capacity. Separately, oil prices got a boost from bullish industrial data out of China, the world's second-largest oil consumer after the United States.

Here in Canada, oil sands producer MEG Energy Corp. (MEG) added 21 cents to $30.35 on 3.47 million shares, as incoming chief executive officer Darlene Gates continued her promotional push -- with help from some friendly cheerleaders. "On the Road with Darlene Gates and Ryan Kubik [MEG's chief financial officer]," was the title of a boosterish research note published this morning by the analysts at RBC. The two executives have been out wooing institutional investors, evidently with the delighted analysts in tow. An obligingly optimistic write-up summarized "upbeat" meetings at which MEG's story "resonated strongly."

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