This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost $1.21 to $71.77 on the New York Merc, while Brent for August lost $1.00 to $73.23 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.90 to WTI, up from a discount of $11.10. Natural gas for July added 16 cents to $3.74. The TSX energy index lost 2.39 points to close at 278.73.

Oil prices gave back some of Friday's gains, on reports that Iran is seeking to de-escalate recent hostilities and resume talks with Israel and the United States over its nuclear programs. "This is likely to remain a short-lived conflict," predicted Mukesh Sahdev of research firm Rystad Energy, concluding that oil prices will likely stay below $80 (U.S.) a barrel. Wells Fargo's Roger Read reached a similar conclusion, writing that prices are unlikely to breach $80 (U.S.) as long as key Iranian energy infrastructure remains relatively undamaged, though they could hit $90 (U.S.) otherwise.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS