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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost 14 cents to $66.38 on the New York Merc, while Brent for September lost 19 cents to $68.52 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.40 to WTI, unchanged. Natural gas for August added three cents to $3.55. The TSX energy index lost 3.05 points to close at 266.66.

Oil prices treaded water, as trade tensions offset bullish supply data. In its latest weekly data release, the U.S. Energy Information Administration (EIA) reported that U.S. crude inventories fell by 3.9 million barrels last week. Analysts had been predicting a smaller drop of 1.8 million barrels. (Everyone was predicting a different number from what was published yesterday by the American Petroleum Institute, which in its own weekly update said inventories skyrocketed by 19.1 million barrels -- the largest increase since reporting began. While it is not unusual to see differences in the two figures, yesterday's kerfuffle likely reflected something extra -- a clumsy finger at the keyboard, perhaps.)

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