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Energy Summary for July 8, 2022

2022-07-08 20:12 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $2.06 to $104.79 on the New York Merc, while Brent for September added $2.37 to $107.02 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.80 to WTI, unchanged. Natural gas for August lost 27 cents to $6.03. The TSX energy index lost 2.32 points to close at 217.74.

Oil sands giant Suncor Energy Inc. (SU) lost 88 cents to $42.43 on 9.47 million shares. Its safety reputation has taken another blow, with yet another fatality at one of its oil sands projects. Late yesterday, Suncor issued a press release grimly disclosing the death of a contractor yesterday morning, following an unspecified "incident at a shovel maintenance pad" at its base mine. It did not release the name of the contractor. (This is common practice -- on the relatively uncommon occasions of a workplace fatality -- as companies generally wait to notify the next of kin and/or receive their consent before releasing a name.)

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