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by Stockwatch Business Reporter
West Texas Intermediate crude for November delivery lost $2.64 to $82.82 on the New York Merc, while Brent for December lost $1.59 to $90.03 (all figures in this para U.S.). Western Canadian Select traded at a discount of $26.50 to WTI, up from a discount of $28.75. Natural gas for November lost 25 cents to $5.75. The TSX energy index lost a fraction of a point to close at 236.27.
Canadian pipeline giant Enbridge Inc. (ENB: $51.30) must fork over $11-million (U.S.) in penalties related to the Minnesota section of its Line 3 oil pipeline. The Minnesota Pollution Control Agency (MPCA) and Department Natural Resources (DNR) announced yesterday that investigators have determined that Enbridge "violated a series of [water] regulations and requirements" during pipeline construction. The agencies, along with the Fond du Lac Band of Lake Superior Chippewa (which experienced an aquifer breach near its reservation), have reached a settlement with Enbridge for $11-million (U.S.), comprising fines, financial assurances and payments for environmental projects.
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