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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost $3.10 to $88.20, while Brent for August lost $2.80 to $91.45 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.80 to WTI, up from a discount of $16.50. Natural gas for July was unchanged at $3.14. The TSX energy index lost 13.21 points to close at 409.19.

Oil prices slid as U.S. officials said traffic through the Strait of Hormuz is "rising very meaningfully." Meanwhile, for Canadian energy proponents, today was a day of gladhanding and jawboning on both sides of the border. The two-day Global Energy Show in Calgary, where federal Energy Minister Tim Hodgson gave the keynote address, kicked off today, as did the Atlantic Council Global Energy Forum in Washington, DC (to which Mr. Hodgon sent his parliamentary secretary, Corey Hogan). Mr. Hodgson defended what he framed as a win-win alignment of resource development and environmentalism, while reinforcing Ottawa's position that it will not support a new oil pipeline without the simultaneous advancement of the Pathways carbon capture megaproject.

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