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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost $2.83 to $84.88, while Brent for August lost $3.05 to $87.33, both benchmarks notching a weekly loss as U.S. officials signalled that an agreement to end the war against Iran could arrive in the coming days (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.20 to WTI, up from a discount of $11.90. Natural gas for July added three cents at $3.12. The TSX energy index lost 1.98 points to close at 413.29.

One oil sands giant ended the week in the headlines, though not for the right reasons. Exxon's Imperial Oil Ltd. (IMO) added 72 cents to $169.77 on 644,900 shares, despite getting slapped -- or at least lightly dinged -- with $120,000 in penalties related to an industrial wastewater overflow at its Kearl oil sands site. According to an announcement from the Alberta Energy Regulator (AER), Imperial has pleaded guilty to charges arising from a 2023 spill of 5,193 cubic metres (picture two full-sized Olympic swimming pools) from a drainage pond at Kearl, and as result has been ordered by the Alberta Court of Justice to hand over $120,000.

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