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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $3.24 to $102.88 on the New York Merc, while Brent for May added 21 cents to $112.78 (all figures in this para U.S.). Western Canadian Select traded at a discount of $21.50 to WTI, down from a discount of $21.10. Natural gas for May (new front month) lost 13 cents to $2.88. The TSX energy index lost 2.10 points to close at 427.12.

Oil prices rose as hopes dimmed for a near-term end to the U.S.-Israel-Iran war. Yemen's Houthis (suspiciously quiet until now) waded into the fray over the weekend and added another layer of risk. U.S. President Donald Trump claimed today that the U.S. is in talks with a "more reasonable regime" in Iran to end the war, but current Iranian authorities have repeatedly denied that any negotiations are in progress, and have further accused Mr. Trump of what would diplomatically be called sending mixed messages, given that he has also sent thousands of troops to the region and spurred fears of a ground invasion. Nonetheless, a peace deal will "probably" be reached soon, insisted Mr. Trump today. He also demanded (again) that Iran reopen the Strait of Hormuz or the U.S. will "completely obliterat[e] all of their electric generating plants, oil wells and Kharg Island."

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