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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added $1.27 to $71.29 on the New York Merc, while Brent for February added $1.08 to $74.49, both benchmarks notching a weekly gain (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.70 to WTI, down from a discount of $12.10. Natural gas for January lost 17 cents to $3.28. The TSX energy index lost 1.33 points to close at 267.23.

Scott Ratushny's Alberta oil producer, Cardinal Energy Ltd. (CJ), added four cents to $6.37 on 739,900 shares, as it stuck an extra feather in its credit cap. It has increased its credit facilities to $275-million from $200-million while bringing in an additional lender, global commodity trading house Trafigura. Cardinal said the extra credit will "provide additional support for the company's capital program," in particular its 6,000-barrel-a-day Reford thermal project in Saskatchewan. Reford is the company's first thermal project and is scheduled to start steam injection in late 2025 and production shortly thereafter.

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