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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery lost 42 cents to $70.61 on the New York Merc, while Brent for April lost 32 cents to $74.29 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.90 to WTI, down from a discount of $10.70. Natural gas for March added four cents to $3.40. The TSX energy index lost 3.36 points to close at 267.49.

Oil sands giant Suncor Energy Inc. (SU) lost 45 cents to $54.99 on 15.7 million shares, as investors pored over its year-end financials. Operationally they held few surprises, as Suncor had already released a quarterly update last month, pegging its fourth quarter production at 874,000 barrels a day (and its full-year output at 827,000 barrels a day, exceeding guidance of 770,000 to 810,000). Financially, Suncor posted cash flow of $2.78 a share for the quarter, exceeding analysts' predictions of $2.63 a share. Net earnings fell to $818-million from $2.82-billion a year earlier. The year-earlier period included a $1.12-billion gain on the acquisition of TotalEnergies EP Canada.

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