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by Stockwatch Business Reporter

U.S. markets were closed today to celebrate Independence Day tomorrow. West Texas Intermediate crude for August delivery added nine cents to $68.78 in electronic trading on the New York Merc (all figures in this para U.S.). Brent for September added 23 cents to $72.12, yet notched a weekly decline, its fourth in a row. Western Canadian Select traded at a discount of $15.50 to WTI, up from a discount of $15.60. Natural gas for August added five cents to $3.25. The TSX energy index added 2.33 points to close at 377.40.

Alberta has formally launched the next stage of its pipeline push. Prime Minister Mark Carney and Alberta Premier Danielle Smith held a press conference in Calgary yesterday evening to announce that the province has submitted its proposal for a one-million-barrel-a-day pipeline to the West Coast. The line would follow a southerly route -- the only politically viable option after Ottawa said yesterday that it would not overturn the B.C. North Coast tanker ban -- and would be planned and built by the federally owned Trans Mountain Corp., working with Pembina Pipeline Corp. (PPL: $66.85).

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