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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost $4.52 to $95.78, while Brent for November lost $3.53 to $100.34 (all figures in this para U.S.). Western Canadian Select traded at a discount of $25.50 to WTI, up from a discount of $28.40. Natural gas for October lost seven cents to $2.83. The TSX energy index lost 11.47 points to close at 439.76.

Oil prices slid on reports that traffic is picking up through the Strait of Hormuz. According to JPMorgan, Saudi Arabia increased its shipments through the strait to an average of 2.9 million barrels a day over the past six days, compared with about 700,000 barrels a day in August. (This is still less than half of what it shipped through the strait before the start of the U.S.-Iran war in February.) Meanwhile, traders are watching for signs of a thaw between Washington and Tehran during this week's UN General Assembly. U.S. President Donald Trump told Fox News yesterday that he is "probably" willing to meet Iranian President Masoud Pezeshkian at the gathering (though in the same interview he also weighed the decidedly less diplomatic option to "blow the entire nation up").

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