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by Stockwatch Business Reporter
West Texas Intermediate crude for July delivery added $2.70 to $122.11 on the New York Merc, while Brent for August added $3.01 to $123.58 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.87 to WTI, down from a discount of $18.81. Natural gas for July lost 59 cents to $8.70. The TSX energy index added 1.96 points to close at 285.21.
Ukraine's new ambassador to Canada has joined the chorus calling for Canada to send oil and gas to Europe and reduce Europe's energy reliance on Russia. "Canadian [energy] companies, we do think, should take the opportunity to enter and expand in the EU market," said Yulia Kovaliv (who formally assumed ambassadorship yesterday) during a speech today at the Global Energy Show in Calgary. She added that Europe will particularly need Canada's help once the European Union's embargo on Russian oil takes effect at the end of the year. "That is a big move," she said. "It will be a significant challenge for the overall European continent."
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