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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery added $2.14 to $69.16 on the New York Merc, while Brent for January added $2.26 to $73.30 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.70 to WTI, down from a discount of $9.80. Natural gas for December added 15 cents to $2.97. The TSX energy index added 2.78 points to close at 281.39.

It was a quiet news day in the Canadian oil patch. Oil sands producer MEG Energy Corp. (MEG), up 40 cents to $25.71 on 1.96 million shares, has been trying to stir up hype for a "business update webcast" next week. It will release its 2025 guidance on Monday after the close and hold the webcast Tuesday morning. This sort of announcement is unusual for MEG, which typically (though not always) releases its guidance without any preceding fanfare. The last time it rolled out the red carpet for a guidance release was three years ago, and what ensued was the unveiling of a new "capital allocation strategy," including an "intention to initiate capital return[s] to shareholders" (share buybacks and subsequently a dividend). Investors will have to wait and see whether next week brings any similar grand pronouncements.

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