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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost $1.50 to $101.38 on the New York Merc, while Brent for May went the other direction and added $5.57 to $118.35 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.00 to WTI, up from a discount of $21.50. Natural gas for May was unchanged at $2.88. The TSX energy index lost 2.60 points to close at 424.52.

Oil prices had a mixed day on mixed signals about a near-term end to the U.S.-Israel-Iran war. Even with today's ups and down, prices easily knocked out record quarterly gains: WTI is up nearly $44 since the start of the quarter (a 77-per-cent jump), while Brent has soared by $57.60 (a 94-per-cent jump), the largest one-quarter gains by dollar amount going back to data from 1988. Both benchmarks also unsurprisingly clinched their third consecutive monthly gains.

Here in Canada, it is official: Tomorrow's deadlines for two commitments under the landmark Alberta-Ottawa energy deal will not be met. Alberta Premier Danielle Smith told reporters today that the governments are having some differences of opinion regarding carbon pricing and an MOU (memorandum of understanding) with the backers of the Pathways carbon capture proposal, and therefore will not reach their stated goal of signing agreements on those two items by April 1. "Quite a bit of work" has been done, she hastened to add. She declined to set a new date, but implied that the delays will be relatively short-lived, saying, "I think we all have a sense of urgency to get this done."

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