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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added 32 cents to $86.91 on the New York Merc, while Brent for June added 52 cents to $91.17, both benchmarks notching their second weekly gain in a row (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.90 to WTI, down from a discount of $15.00. Natural gas for May added two cents to $1.86. The TSX energy index added 3.77 points to close at 301.75, its first time above the psychologically pleasing 300 threshold since 2014.

Canada's nascent LNG (liquefied natural gas) industry tottered forward, as the backers of the proposed Cedar LNG project in Kitimat, B.C., cheered "significant milestones." Cedar LNG is a $4.6-billion joint venture between the Haisla Nation and Pembina Pipeline Corp. (PPL: $48.69). The two of them announced late yesterday that they have signed various agreements which, crucially, have allowed them to "initiate the project financing process ... in advance of a final investment decision [FID], expected by the middle of 2024."

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