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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added four cents to $74.66 on the New York Merc, while Brent for March added 21 cents to $78.50 (all figures in this para U.S.). Despite today's gains, both benchmarks notched their first weekly decline of 2025, snapping a four-week winning streak. Western Canadian Select traded at a discount of $12.40 to WTI, unchanged. Natural gas for February added eight cents to $4.02. The TSX energy index lost 2.97 points to close at 275.67.

Canada's oil patch wrapped up a week of tumultuous rhetoric from south of the border, with tariff back-and-forth, 51st state quips and the claim that the United States does not need Canadian oil (despite importing a record four million barrels a day of the stuff). The TSX energy index and iShares S&P TSX Capped Energy Index ETF (XEG: $17.67) rode it out with barely a blink, ending the week essentially unchanged. U.S. President Donald Trump has, for the most part, focused on domestic energy ambitions during his first week in office, with minimal actual disruptiveness to global oil supplies. He did tell the World Economic Forum yesterday that he will demand that OPEC "bring down the cost of oil." OPEC already has plans to start increasing supplies in April.

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