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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery, the benchmark in North America, lost eight cents to $97.77 on the New York Merc, while Brent for August, the benchmark in Europe, lost 46 cents to $105.47 (all figures in this para U.S.). Western Canadian Select, Canada's heavy oil benchmark, traded at a discount of $13.48 to WTI ($84.29), up from a discount of $13.86. Natural gas for July, the international benchmark, added 14.2 cents to $3.87. The TSX energy index added 3.52 points to close at 247.24.

Whitecap Resources Inc. (WCP) added 38 cents to $10.58 on 2.75 million shares. Canaccord Genuity has started covering Whitecap and Raging River Exploration Inc. (RRX), up a cent to $3.86 on 827,900 shares. Both companies are in the Viking light oil play in the Dodsland area of Saskatchewan. Canaccord gives them each a "buy" rating and sets a price target of $13 for Whitecap and $5.50 for Raging River. It likes the companies' "experienced management teams with a history of successfully creating shareholder value." Raging River's Neil Roszell, president and chief executive officer, Bruce Robertson, executive vice-president, and Jerry Sapieha, chief financial officer, have built and sold three companies together (including two to Crescent Point Energy Corp. (CPG: $36.40), an oft-rumoured suitor for Raging River). They have worked together for nearly a decade.

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