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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added 50 cents to $70.58 on the New York Merc, while Brent for February added 20 cents to $73.39 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.30 to WTI, down from a discount of $12.20. Natural gas for January added seven cents to $3.37. The TSX energy index lost 4.89 points to close at 255.71.

Oil prices inched higher as traders sifted through U.S. supply and export data. In its latest weekly data release, the U.S. Energy Information Administration (EIA) reported that domestic crude inventories fell by 934,000 barrels last week. While this was not as large as the 1.6-million-barrel decrease forecast by analysts, oil bulls were heartened to see U.S. crude exports rising to 4.89 million barrels a day last week, a sizable 1.8-million-barrel-a-day jump from a week earlier.

Here in Canada, Ronald Poelzer and Jonathan Wright's Alberta Montney-focused NuVista Energy Ltd. (NVA) lost 71 cents to $12.77 on 2.34 million shares, after finding an early lump of coal in its stocking. An unplanned outage at a third party gas plant has forced NuVista to curtail some of its production. As a result, its fourth quarter guidance is now 83,000 to 84,000 barrels a day (down from 90,000), dragging its full-year output to "just below the bottom end" of the target range of 83,500 to 86,000 barrels a day. (Unfortunately, this is the second time in mere months that NuVista has been plagued by plant outages, which already shaved off 5,000 barrels a day during the third quarter and eliminated most of the company's wiggle room.)

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