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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added $1.72 to $63.67 on the New York Merc, while Brent for July added $1.67 to $66.63 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.10 to WTI, down from a discount of $13.30. Natural gas for June was unchanged at $3.64. The TSX energy index added 4.77 points to close at 263.80.

Prime Minister Mark Carney has unveiled his new cabinet, with a mix of (mostly) new and (a handful of) old faces. The revamped cabinet comprises 28 ministers supported by 10 secretaries of state. Twenty-four are new ministers, and 13 of them are first-time MPs. The latter group includes the answer to the main question in the oil patch: Who is taking over the Energy file?

The answer is Tim Hodgson, a rookie MP but a familiar face in business circles, and to Mr. Carney personally. The two of them have a long history. They worked together at Goldman Sachs (where Mr. Hodgson's roles included chief executive officer of Goldman Sachs Canada), and after Mr. Carney became governor of the Bank of Canada, Mr. Hodgson joined as a special adviser to him from 2010 to 2012. More recently, Mr. Hodgson served as chairman of Hydro One and a director of the Ontario Teachers' Pension Plan, until Mr. Carney recruited him to run for the Liberals in last month's election.

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