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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added 84 cents to $53.04 on the New York Merc, while Brent for August added 66 cents to $58.51 (all figures in this para U.S.). The two benchmarks were surprisingly nonchalant about this morning's landmark nuclear agreement reached between Iran and world powers. The agreement paves the way for sanctions to be lifted on Iran's oil exports, boosting global oil supplies and pressuring prices. Many observers, from Goldman Sachs to Alberta Premier Rachel Notley, downplayed the effects that the deal will have on the market. The general consensus was that Iran's comeback will indeed suppress oil prices, but will also be very gradual. Western Canadian Select traded at a discount of $13.75 to WTI ($39.29), down from a discount of $12.55. Natural gas for August lost 2.4 cents to $2.84. The TSX energy index added 3.67 points to close at 198.73.

Abby Badwi's Bankers Petroleum Ltd. (BNK) added 28 cents to $2.93 on 5.12 million shares, pleasing investors with an operational update for the second quarter. Production averaged 20,045 barrels a day, back above 20,000. It had dipped below that level in the first quarter because of flooding in February. The flooding affected 81 of Bankers' wells, nearly all of which are at the Patos-Marinza heavy oil field in Albania. Bankers has been drilling this field for 11 years. Late last year, it drilled its first well at the nearby Kucova light oil field, with the goal of obtaining light oil to use as a relatively low-cost diluent for its main heavy oil product. Management said during the conference call that the Kucova well has averaged 40 to 50 barrels a day over seven months. Bankers will continue its Kucova activity by drilling a second well later this year, but over all it seems more excited about another light oil option, the Bubullima reservoir. This is within in the Patos-Marinza concession but below the Marinza formation. Bankers drilled two Bubullima wells over two years ago, but their production was intermittent because of infrastructure limitations. The company took a fresh interest earlier this year and drilled two new Bubullima wells. Together they produced 200 barrels a day over their first month. During the conference call, management called the results a "highlight," talked up the Bubullima's "significant expansion capability" and said three more Bubullima wells will be drilled by year-end.

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