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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery added 38 cents to $59.50 on the New York Merc, while Brent for March added 53 cents to $63.87 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.50 to WTI, up from a discount of $16.50. Natural gas for February added 24 cents to $3.40. The TSX energy index added 1.55 points to close at 300.80.

Oil prices edged higher as traders continued to weigh the threat of supply disruptions from Iran, now entering a third week of civil unrest, against the White House's push for higher exports from Venezuela, which would require billions of dollars from oil companies to rebuild infrastructure. U.S. President Donald Trump made his Venezuelan pitch to oil executives at a televised meeting on Friday. Not every response was to his liking: After Exxon's chief executive officer called Venezuela "uninvestable," Mr. Trump said on Sunday that he might block Exxon from Venezuela for "playing too cute." Mr. Trump also claimed that "a lot" of oil companies have made commitments on Venezuelan investment. So far, such commitments remain non-public.

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