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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 52 cents to $68.87 on the New York Merc, while Brent for January lost 50 cents to $72.81 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.10 to WTI, up from a discount of $11.70. Natural gas for December shot up 20 cents to $3.19. The TSX energy index added 2.88 points to close at 283.43.

Oil prices ended a wobbly day down. They headed higher in the morning, buoyed by rumours of improving Chinese crude imports and the possibility of another delay to a planned OPEC+ production increase. These bullish whispers could not withstand bearish supply data. In its latest weekly data release, the U.S. Energy Information Administration (EIA) reported that domestic crude inventories rose by 545,000 barrels last week, whereas analysts were expecting a smaller rise of 138,000 barrels.

Within the sector, the Texas- and Alberta-focused Baytex Energy Corp. (BTE) edged up seven cents to $4.20 on 7.3 million shares, as it sought to rustle up some institutional enthusiasm. President and chief executive officer Eric Greager and IR man Brian Ector have been holding institutional investor meetings accompanied by RBC analyst Greg Pardy. In a rah-rah recap of the meetings, Mr. Pardy obligingly carried management's message to a wider crowd, filling his new research note with praise for Baytex's "solid leadership team, portfolio diversity and balance sheet deleveraging."

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