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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery slid $3.98 to $86.85, while Brent for January lost $5.75 to $92.57, both benchmarks sliding as U.S. President Donald Trump said further attacks on Iran are unlikely if diplomatic talks show progress (all figures in this para U.S.). Western Canadian Select traded at a discount of $25.60 to WTI, up from a discount of $29.30. Natural gas for December added 22 cents to $3.21. The TSX energy index lost 4.26 points to close at 426.85.

Another multibillion-merger is dominating headlines in the oil patch. Adam Waterous's heavy-oil-focused Strathcona Resources Ltd. (SCR) slipped 34 cents to $36.00 on 1.84 million shares, after agreeing to buy sister promotion Greenfire Resources Ltd. (GFR), which bounded up $3.01 to $10.94 on 30.3 million shares. The cash-and-share deal values Greenfire at $2.7-billion to $2.9-billion (including debt), depending on how shareholders opt to take their consideration. Strathcona will issue $11 cash or 0.25 of a Strathcona share for every Greenfire share.

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