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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added 87 cents to $112.41 on the New York Merc, while Brent for June added 74 cents to $109.77 (all figures in this para U.S.). Western Canadian Select traded at a discount of $31.90 to WTI, up from a discount of $36.10. Natural gas for May added one cent to $2.81. The TSX energy index added 2.72 points to close at 419.59.

Oil prices had another edgy day. A 45-day ceasefire is rumoured to be under discussion to pause the U.S.-Israel-Iran war, but observers are reading it as a last-ditch effort to contain worse escalation involving attacks on regional energy infrastructure. The rhetoric is moving in the opposite direction, with U.S. President Donald Trump issuing a profanity-filled warning on Easter Sunday for Iran to reopen the Strait of Hormuz or face hellish consequences. Iran has rejected the demands and insisted on compensation for war damages. It has been flexing its muscles by granting selective passage, with 21 ships transiting the strait over the weekend, well below the prewar average of 135 a day.

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