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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery added 25 cents to $96.60 on the New York Merc, while Brent for July added 96 cents to $103.54 (all figures in this para U.S.). Western Canadian Select traded at a discount of $19.00 to WTI, down from a discount of $17.80. Natural gas for June lost 11 cents to $2.90. The TSX energy index lost a fraction of a point to close at 438.20.

Oil prices crept higher today, but notched a weekly loss. Iran is reportedly in discussions with Oman about setting up a toll system for vessels going through the Strait of Hormuz, a move that would formalize Tehran's control over the waterway. The United States and the Gulf states are, unsurprisingly, not fans of the idea, with U.S. Secretary of State Marco Rubio telling reporters that tolls "can't happen" and would render a diplomatic deal to end the U.S.-Iran war "unfeasible." He also said there have been "good signs" of progress toward a diplomatic deal, concluding, "Let's see what happens over the next few days."

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