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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery (new front month) added 26 cents to $60.62 on the New York Merc, while Brent for March added 32 cents to $65.24 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.20 to WTI, down from a discount of $15.00. Natural gas for February rocketed up 97 cents to $4.87. The TSX energy index added 10.63 points to close at 325.59.

Oil prices had a ho-hum day. Gas prices, on the other hands, have jumped more than 50 per cent in two days and are on track for their biggest weekly gain in more than three decades, soaring on extreme cold weather forecasts across much of the United States. Meteorologists say the frigid conditions could last through the rest of January and into February.

Canadian gas producers went along for the ride. One of them, Jeff Tonken and Chris Carlsen's Montney-focused Birchcliff Energy Ltd. (BIR), added 21 cents to $7.28 on 2.81 million shares, as it reminded investors just how much it stands to gain from higher gas prices. "[We have] no fixed-price commodity hedges," it emphasized (with a boastful tone that emerges whenever gas prices are on the rise and vanishes into grim resignation when they fall). For every 10-cent gain in each of Henry Hub, Dawn and AECO (the main U.S. and Canadian gas hubs), the estimated increase in Birchcliff's free cash flow for 2026 is $19.2-million.

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