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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $2.52 to $92.13 on the New York Merc, while Brent for June added $3.00 to $98.48 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.70 to WTI, up from a discount of $24.70. Natural gas for May added one cent to $2.69. The TSX energy index added 7.37 points to close at 391.43.

Oil prices started lower and then wobbled higher (with Brent once again eyeing triple digits) as traders tried to parse uncertain signals about U.S.-Iran ceasefire talks. A planned trip by U.S. Vice-President J.D. Vance to Pakistan for mediated peace talks was postponed indefinitely after Iran said it would not participate. U.S. President Donald Trump told CNBC that he does not want to extend the ceasefire (which expires Wednesday) and threatened to resume bombing Iran if a deal is not struck soon, claiming that the military is "raring to go." Despite the threats, the relatively muted reaction from oil traders suggested optimism that negotiations will resume.

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