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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $3.08 to $73.52, while Brent for September added $3.86 to $78.02 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.30 to WTI, down from a discount of $17.20. Natural gas for August lost five cents to $3.21. The TSX energy index added 14.52 points to close at 398.76.

Oil prices hurtled higher after the U.S. military resumed strikes against Iran, with U.S. President Donald Trump declaring an interim agreement to end the war "over." Iran vowed a "crushing response" to the strikes, which came after tankers were hit in the Strait of Hormuz earlier this week, prompting Washington to reimpose sanctions on Iranian oil yesterday afternoon. Mr. Trump, in Turkey for a NATO summit today, called Iran's leaders "scum" who are "a waste of time dealing with," although he did not explicitly withdraw from peace talks, saying he would "let our wonderful negotiators keep talking if they want."

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