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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost $2.28 to $60.07 on the New York Merc, while Brent for June lost $2.15 to $63.33 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.10 to WTI, up from a discount of $15.10. Natural gas for May lost 26 cents to $3.55. The TSX energy index lost 15.70 points to close at 223.74.

Oil prices swung downward again, shrugging off most of their gains from yesterday's about-face in the White House on pausing tariffs, as traders returned to worrying about global recession risks. Here in Canada, a prominent energy executive urged the country to take advantage of the melee to "show that Canada is back in business." Francois Poirier, chief executive officer of pipeline giant TC Energy Corp. (TRP: $63.52), gave a keynote speech today to the Canadian Club Toronto (even getting a media advisory issued beforehand to boost coverage) and laid out a vision of Canada becoming an "LNG [liquefied natural gas] superpower."

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