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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery lost 54 cents to $90.23 on the New York Merc, while Brent for October lost 24 cents to $96.48 (all figures in this para U.S.). Western Canadian Select traded at a discount of $19.70 to WTI, up from a discount of $20.10. Natural gas for September added 34 cents to $9.68. The TSX energy index added 2.11 points to close at 237.40.

The widely hyped visit to Canada from German Chancellor Olaf Scholz is proving to be -- as widely expected -- a bust for anyone hoping for fast progress on Canadian exports of LNG (liquefied natural gas). The three-day official visit, which began Sunday, initially stirred up hopes that Mr. Scholz and Prime Minister Justin Trudeau would throw their support behind one or more proposals to export Canadian LNG to Europe, as a means of reducing Europe's reliance on Russian gas. Those hopes faded as LNG garnered not a single mention in the visit's itinerary earlier this month. A press conference with Mr. Trudeau and Mr. Scholz this morning confirmed that their priorities lie elsewhere.

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