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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost 70 cents to $42.53 on the New York Merc, while Brent for August lost $1.20 to $44.82, its first time below $45 in seven months (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.10 to WTI ($31.43), unchanged. Natural gas for July lost two cents to $2.89. The TSX energy index lost a fraction to close at 169.72.

Cenovus Energy Inc. (CVE) lost 30 cents to $9.14 on 14.9 million shares, continuing its slide from yesterday, when it lost 84 cents after announcing the unexpected retirement of president and chief executive officer Brian Ferguson. The announcement comes as the company is struggling to win over investors dismayed by its recent $17.7-billion asset acquisition in Alberta from ConocoPhillips. The stock has fallen from about $17.50 since the deal was announced in late March. Mr. Ferguson, speaking at an investor day yesterday in Toronto (which began two hours after the retirement announcement came out), declined to say whether his choice to step down coincided with the acquisition. He stated only that it was a "personal decision."

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