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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost $1.95 to $66.31 on the New York Merc, extending its slide on seemingly never-ending tariff jitters, while Brent for May lost $1.74 to $69.30, closing below $70 for the first time since September (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.40 to WTI, up from a discount of $12.20. Natural gas for April added 10 cents to $4.45. The TSX energy index lost 1.89 points to close at 244.27.

Quarterly reporting season is in peak bloom in the oil patch, with dozens of financials set to sprout over the coming week and a half. Investors turned up their noses today at the year-end financials and reserves of Baytex Energy Corp. (BTE), down 14 cents to $2.85 on 22.9 million shares. Fourth quarter production of 152,900 barrels a day and cash flow of 59 cents a share were both generally in line with analysts' predictions, but both were also mildly lower on a quarter-over-quarter and year-over-year basis. Year-end 2P (proved and probable) reserves also drifted slightly downward. The one area where investors would have liked seeing a drop, a big one, was total debt, but that stayed flat quarter over quarter at $2.3-billion. The 2025 guidance remained unchanged at 148,000 to 152,000 barrels a day on a budget of $1.2-billion to $1.3-billion.

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