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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost $7.80 to $91.28 on the New York Merc, while Brent for June lost $4.57 to $94.79, falling on optimism that U.S.-Iran peace talks will resume later this week (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.30 to WTI, up from a discount of $26.70. Natural gas for May lost three cents to $2.59. The TSX energy index lost 9.92 points to close at 398.42.

Prime Minister Mark Carney's Liberals now have a slim majority government after winning all three of yesterday's by-elections (bolstered by five floor-crossers since November). Securing a majority gives Mr. Carney freer reign to pursue his various economic objectives. The oil patch will be watching and waiting to see how -- or, from a skeptic's view, whether -- he plans to make good on his 2025 campaign promise to turn Canada into an "energy superpower."

Between that and continuing tensions in the Middle East, there was plenty to talk about on day one of the BMO CAPP Energy Symposium, the annual dog-and-pony show hosted by the energy sector's largest lobby group -- the Canadian Association of Petroleum Producers (CAPP) -- taking place today and tomorrow in Toronto. Presentations are closed to the public and the media, but some speakers have been making use of the opportunity to hone their spiel before other willing audiences.

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