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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 28 cents to $83.85 on the New York Merc, while Brent for June added 49 cents to $89.50, both notching a weekly gain (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.50 to WTI, up from a discount of $14.00. Natural gas for May lost three cents to $1.61. The TSX energy index added a fraction of a point to close at 300.33.

Within the oil patch, North America's oil giants began lumbering in to report their first quarter earnings, but none managed to awe investors. Canada's Imperial Oil Corp. (IMO) edged down 80 cents to $96.56 on 1.65 million shares, on a mixed quarter that included lower cash flow and higher expenses than analysts were predicting (though production was in line). The mood was just as subdued south of the border. Exxon posted earnings well below analysts' predictions, weighed down by weak downstream results. Chevron's quarter was a better match with predictions but nothing special. All in all, it was a dull end to the first week of the reporting season, but the season is far from over yet, with most companies set to inundate investors with numbers over the next two weeks.

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