This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 61 cents to $78.99 on the New York Merc, while Brent for July added 42 cents to $83.58 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.80 to WTI, down from a discount of $13.10. Natural gas for June lost two cents to $2.19. The TSX energy index added 1.55 points to close at 297.50.

Oil prices headed higher, buoyed by bullish supply data from the U.S. government. Today's weekly report from the Energy Information Administration (EIA) showed that U.S. crude inventories fell by 1.4 million barrels last week. This is markedly different from what was in yesterday's weekly report from the industry-backed American Petroleum Institute (API), which said inventories rose by 509,000 barrels. The two reports usually stroll arm and arm, but sometimes they go careening down separate paths, mainly because reporting to the API is optional, whereas reporting to the government is most definitely not.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS