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Energy Summary for Feb. 20, 2025

2025-02-20 17:23 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added 32 cents to $72.57 on the New York Merc, while Brent for April added 44 cents to $76.48 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.80 to WTI, unchanged. Natural gas for March lost 13 cents to $4.15. The TSX energy index added a fraction of a point to close at 275.87.

Oil prices headed slightly higher, shrugging off bearish U.S. supply data. The U.S. Energy Information Administration reported that domestic crude inventories rose by 4.6 million barrels last week, notching their fourth weekly increase in a row, and surpassing analysts' predictions of a rise of 3.1 million barrels. Meanwhile, many market observers were in a reflective mood, with today marking the fifth anniversary of the start of the COVID crash (which saw the S&P nosedive 34 per cent in late February and March, only to reverse just as quickly and re-enter a bull market in April).

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