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by Stockwatch Business Reporter

New York Merc crude for July delivery lost $1.88 to $94.28 (all figures in this para U.S.). Brent for July lost $1.31 to $102.60. West Texas Intermediate lost $1.90 to $94.28, while Western Canadian Select traded at a discount of $21 to WTI ($73.28), down from a discount of $20.46. The TSX energy index lost a fraction to close at 254.68.

Wade Cherwayko's Mart Resources Inc. (MMT), the heaviest-traded energy stock on the TSX-V, lost two cents to $1.47 on 4.98 million shares. The company is developing the Umusadege field in the Niger Delta. Nigeria has won the dubious honour of placing 40th out of 58 countries in quality of governance in oil, gas and mining. The Revenue Watch Institute, a New York-based policy and grant-making organization, released its 2013 Resource Governance Index, giving Nigeria 42 out of 100 points. This reflects reporting practices, environmental governance, safeguards and quality controls, and institutional and legal standards.

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