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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added $1.58 to $64.99 on the New York Merc, while Brent for November added $1.68 to $69.31 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.80 to WTI, up from a discount of $12.70. Natural gas for October was unchanged at $2.85. The TSX energy index added 3.90 points to close at 294.19.

Oil prices headed higher, buoyed by bullish supply data and geopolitical tensions. In its latest weekly data release, the U.S. Energy Information Administration reported that U.S. crude inventories fell by 607,000 barrels last week. Analysts were predicting an increase of 235,000 barrels. Export issues in Iraq, Venezuela and Russia added support to prices, offsetting reports that producers in Kurdistan have reached an interim agreement with the Kurdish and Iraqi governments to resume exports. Canadian energy stocks went along for the ride, with some of them -- such as NuVista Energy Ltd. (NVA: $16.41), Obsidian Energy Corp. (OBE: $9.26), Spartan Delta Corp. (SDE: $5.67) and Journey Energy Inc. (JOY: $3.29) -- setting new 52-week highs.

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