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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added 86 cents to $48.75 on the New York Merc, while Brent for September added 77 cents to $50.97 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.85 to WTI ($38.90), unchanged. Natural gas for August lost two cents to $2.92. The TSX energy index added a fraction to close at 176.51.

Yesterday's cancellation of Petronas's $36-billion Pacific NorthWest LNG (liquefied natural gas) project in British Columbia continued to resound across the energy sector today. Some Montney gas producers, which are hoping to become suppliers to the B.C. LNG industry if it is ever developed -- an all-but-vanished dream, to read many of today's headlines -- looked for a silver lining. The most determined searcher was surely Andy Mah, president and chief executive officer of Advantage Oil & Gas Corp. (AAV), up one cent to $8.82 on 595,500 shares. Mr. Mah headed to BNN this morning to talk about a potential unexpected benefit of Petronas's decision.

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