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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost 87 cents to $74.93 on the New York Merc, while Brent for August lost $1.84 to $77.01 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.50 to WTI, up from a discount of $14.30. Natural gas for July lost 24 cents to $3.84. The TSX energy index added 1.82 points to close at 282.40.

Oil prices notched their third weekly gain in a row, even with today's sharp retreat, which came in the wake of a White House announcement delaying a decision on U.S. involvement in the Israel-Iran conflict. This lowered concerns of imminent supply disruptions and kindled hopes of a diplomatic resolution. The White House will wait two weeks to make a decision, it said, citing "a substantial chance of negotiations that may or may not take place with Iran in the near future."

Here in Canada, today marks both an anniversary and a debut for Ottawa's so-called anti-greenwashing rules. The controversial rules were enacted through changes to the Competition Act that took effect one year ago today, on June 20, 2024. Built into the rules was the following provision: Starting June 20, 2025 -- today -- private parties and individuals, not just federal watchdogs, can apply for leave to lob accusations at companies and try to haul them before a tribunal.

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