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 February delivery added $2.54 to $80.04 on the New York Merc, while Brent for March added $2.11 to $82.03 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.60 to WTI, down from a discount of $12.40. Natural gas for February added 12 cents to $4.08. The TSX energy index added a fraction of a point to close at 279.47.

Oil prices reached a five-month high, as bullish U.S. supply data (with inventories now at their lowest levels in nearly three years) muscled aside a ceasefire agreement between Israel and Hamas (lowering the risk of regional supply disruptions). The ceasefire was confirmed by the U.S., Qatari and Israeli governments, though with slightly differing views on whether it is a done deal or has a few more kinks to iron out. Separately, the U.S. Energy Information Administration reported that domestic crude inventories fell by two million barrels last week. Analysts were expecting a much smaller decrease of 850,000 barrels.

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