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by Stockwatch Business Reporter
West Texas Intermediate crude for April delivery lost $1.77 to $68.93 on the New York Merc, closing below $70 for the first time since December, while Brent for April lost $1.76 to $73.02 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.60 to WTI, up from a discount of $12.70. Natural gas for March added 18 cents to $4.17. The TSX energy index lost 4.40 points to close at 263.42.
Oil prices slumped to their lowest levels of the year, dragged down by U.S. tariff threats, inflation fears and a gloomy consumer confidence reading. Canadian energy stocks went along for the ride. Both Canadian Natural Resources Ltd. (CNQ: $41.26) and Cenovus Energy Inc. (CVE: $20.13) set fresh 52-week lows, while other tumblers included Strathcona Resources Ltd. (SCR), down $1.14 to $26.20, Kolibri Global Energy Inc. (KEI), down 78 cents to $11.30, and Baytex Energy Corp. (BTE), down 20 cents to $3.18.
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