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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery added 30 cents to $75.14 on the New York Merc, closing above $75 for the first time since January, while Brent for August added 25 cents to $76.70 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.70 to WTI, up from a discount of $14.20. Natural gas for July added 14 cents to $3.98. The TSX energy index lost 2.95 points to close at 280.58.

Over a volatile session, oil prices wobbled but managed to hold on to yesterday's big gains, as traders sifted through Middle Eastern headlines and U.S. supply data. "Nobody knows what I am going to do," stated U.S. President Trump when asked by reporters about U.S. military involvement in the Iran-Israel conflict. Meanwhile, in its latest weekly data release, the U.S. Energy Information Administration reported that U.S. crude inventories plunged by 11.5 million barrels last week, their largest drop in a year. Analysts were predicting a much smaller decrease of 1.8 million barrels.

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