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by Stockwatch Business Reporter
West Texas Intermediate crude for October delivery added $3.96 to $42.56 on the New York Merc, while Brent for October added $4.42 to $47.56 (all figures in this para U.S.). The benchmarks enjoyed their biggest one-day rally since 2009 thanks to better-than-forecast U.S. economic data, a rebound in Chinese stock markets and Shell's declaration of force majeure on Nigerian oil exports. Western Canadian Select traded at a discount of $14.75 to WTI ($27.81), down from a discount of $14.25. Natural gas for September lost 5.5 cents to $2.638. The TSX energy index added 10.71 points to 172.10.
Canadian producers rose with oil. Dozens of them saw their stocks go up by 10 or even 20 per cent, including Canadian Oil Sands Ltd. (COS), up $1.01 to $7.13, Enerplus Corp. (ERF), up 86 cents to $7.45, Trilogy Energy Corp. (TET), up 47 cents to $4.00, Bonterra Energy Corp. (BNE), up $1.99 to $18.78, and little Lightstream Resources Ltd. (LTS), up 7.5 cents to 42 cents.
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