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Energy Summary for June 25, 2013

2013-06-25 18:53 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added 14 cents to $95.32 on the New York Merc, while Brent for August added 10 cents to $101.26 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.50 to WTI ($78.82), up from a discount of $16.75. Natural gas for July lost 9.2 cents to $3.64. The TSX energy index added 1.93 points to close at 242.24.

Bankers Petroleum Ltd. (BNK) added two cents to $2.62 on 2.33 million shares. The Albania-focused company has lost nearly 30 cents since Wednesday, likely reflecting investor uncertainty about Albania's election on Sunday. They were right to be worried. On election day, an exchange of gunfire at a polling station seriously wounded a candidate for Prime Minister Sali Berisha's governing Democratic Party, and killed a 49-year-old supporter of an opposition party. The fight allegedly broke out because opposition supporters were trying to bribe voters. The violence led to worries the European Union would toss out Albania's bid for membership. Fortunately for former hard-line Communists, the bar is not high. Two EU officials released a statement congratulating Albania for the "overall orderly conduct" of the election, noting international observers described it as "vibrant," "competitive" and characterized by "genuine respect for fundamental freedoms." One thing it lacks is a winner. Although Albania's central electoral commission has not announced results, both Mr. Berisha and his close rival, Socialist Party leader Edi Rama, have claimed victory.

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