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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery added $2.21 to $88.74, while Brent for January added $3.06 to $95.82. (all figures in this para U.S.). Western Canadian Select traded at a discount of $30.30 to WTI, down from a discount of $26.30. Natural gas for December added 12 cents to $3.34. The TSX energy index added 3.54 points to close at 444.92.

After reaching two-month lows earlier this week, oil prices rebounded today after U.S. President Donald Trump suggested there might be no breakthrough in peace talks with Iran after all. In one of his frequent reversals from comments made days earlier -- in this case, that the eight-month conflict may be nearing an end -- Mr. Trump said today that the United States has no need to reach a peace deal. "We've got their money ... and we've got their Strait [of Hormuz]!" he claimed on social media. Maritime agencies continue to report numerous attacks on ships navigating the strait.

On the TSX, Dr. Sean Guest and Yacine Ben Meriem's Thailand-focused Valeura Energy Inc. (VLE) added 33 cents to $14.60 on 553,000 shares, after releasing its third quarter financials. A prior operational update in October ensured a minimum of surprises. Production averaged 22,100 barrels a day, as previously announced, and the company expects to land at the high end of its full-year guidance of 20,000 to 22,000 barrels a day, despite an earlier-than-planned temporary shutdown of its 3,000-barrel-a-day Wassana field. The shutdown will begin this very month, rather than 2027.

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