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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery lost 29 cents to $75.65 on the New York Merc, while Brent for December lost 36 cents to $79.04 (all figures in this para U.S.). Despite these drops, both benchmarks notched their second consecutive weekly gain. Western Canadian Select traded at a discount of $10.60 to WTI, down from a discount of $10.90. Natural gas for November lost four cents to $2.63. The TSX energy index added a fraction of a point to close at 290.44.

Canadian oil and gas producers looked for reasons to celebrate heading into the long weekend. One of them even enjoyed a hail of confetti. President and chief executive officer Darlene Gates of MEG Energy Corp. (MEG), down 18 cents to $27.84 on 2.26 million shares, trundled off to Toronto to open the market, smiling and clapping beneath a sign celebrating MEG's "25 year incorporation, 15 year listing and inaugural of quarterly dividend [sic]." In the battle of budget dollars for confetti versus proofreaders, the shiny scraps of paper won this round.

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