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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost 80 cents to $77.88 on the New York Merc, while Brent for March lost 50 cents to $80.79 (all figures in this para U.S.). Despite dropping today, both benchmarks were up for the week, notching their fourth weekly gain in a row. Western Canadian Select traded at a discount of $13.30 to WTI, down from a discount of $12.10. Natural gas for February lost 31 cents to $3.94. The TSX energy index added 2.40 points to close at 276.87.

Alberta oil sands producer Cenovus Energy Inc. (CVE) added 41 cents to $21.77 on 10.6 million shares. It is rumoured to have made some changes at the top. The rumours caught the eye of RBC analyst Greg Pardy, who in a research note this morning appeared to confirm the speculation, even if Cenovus is still keeping the specifics under wraps. "We understand that Cenovus's management changes were a part of planned retirements and are expected to be addressed more fully when it releases its fourth quarter results on Feb. 20," wrote Mr. Pardy. He added that the changes are "not considered material by Cenovus, based on our discussion with the company."

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