This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost $1.40 to $62.27 on the New York Merc, while Brent for June lost $1.32 to $66.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.00 to WTI, up from a discount of $14.30. Natural gas for May added two cents to $3.02. The TSX energy index lost 1.76 points to close at 243.36.

Oil prices headed lower, weighed down by bearish supply data and bearish supply rumours. The data came from the U.S. Energy Information Administration (EIA), which reported that U.S. crude inventories rose by 244,000 barrels last week -- not a huge number, but a surprise next to analysts' predictions of a decrease of 770,000 barrels. Meanwhile, Reuters (citing "sources familiar with the matter") reported that OPEC+ is considering another accelerated output increase for June. The group previously decided to increase production by 411,000 barrels a day in May, more than triple its original plan. A meeting to decide on the plan for June will take place on May 5.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS