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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $1.23 to $64.31 on the New York Merc, while Brent for June added $1.18 to $67.44 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.30 to WTI, down from a discount of $11.40. Natural gas for May lost one cent to $3.00. The TSX energy index added 5.10 points to close at 245.12.

Oil prices headed higher amid a broader market rebound, helped by comments from U.S. Treasury Secretary Scott Bessent, who predicted a de-escalation of the tariff war between the United States and China. Here in Canada, a record number of oil tankers entered Vancouver's Burrard Inlet in March, reported the Vancouver Sun (citing data compiled by Dr. David Huntley, a retired Simon Fraser University professor who has been monitoring Vancouver tanker traffic for years). The number of tanker arrivals jumped to 30 in March. This is up from a monthly average of 20 tankers since the start-up of the expanded Trans Mountain pipeline in May, 2024, before which the monthly average was a mere two tankers.

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