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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost 92 cents to $78.01 on the New York Merc, while Brent for May lost 88 cents to $82.08, both benchmarks notching a weekly loss (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.90 to WTI, up from a discount of $15.70. Natural gas for April lost one cent to $1.81. The TSX energy index lost 1.85 points to close at 265.69.

Oil sands giant Suncor Energy Inc. (SU) lost 31 cents to $46.51 on 16.6 million shares, making national headlines with an early-stage agreement for a potential oil sands mine. Such a preliminary deal might not ordinarily warrant hauling out the trumpets, but this is an exception, because the agreement is with the Fort McKay First Nation (FMFN) and the potential mine is on reserve land. Suncor deemed it a "significant milestone" in its "journey of reconciliation." Chief Raymond Powder added that the parties are "charting a new path" toward "prosperity and a sustainable future."

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