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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost $1.86 to $99.90, while Brent for December lost $1.93 to $113.88, amid renewed diplomatic efforts to end the U.S.-Iran war and alleviate global supply concerns (all figures in this para U.S.). Western Canadian Select traded at a discount of $29.70 to WTI, up from a discount of $31.50. Natural gas for November added nine cents to $2.69. The TSX energy index lost 12.79 points to close at 481.08.

The first green shoots of the oil patch's third quarter reporting season are sprouting, following yesterday's after-the-close release from PrairieSky Royalty Ltd. (PSK), up 11 cents to $36.81 on 1.33 million shares. (While not a direct oil and gas producer, PrairieSky collects royalties from producers across Western Canada, providing a useful gauge of industry activity.) Royalty production in the quarter matched analysts' predictions at 26,900 barrels of oil equivalent a day. This was a 5-per-cent jump over the same period last year, yet cash flow soared over 40 per cent to reach 55 cents a share, beating predictions of 53 cents a share. The gains reflected high oil prices (PrairieSky's royalty production is unhedged) and bonus consideration from leasing deals. Year-to-date bonus revenue is now $26.6-million, exceeding $22.6-million in bonus revenue for all of 2025.

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