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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 37 cents to $96.09, while Brent for January lost $1.17 to $103.60 (all figures in this para U.S.). Western Canadian Select traded at a discount of $33.50 to WTI, down from a discount of $24.70. Natural gas for December added four cents to $2.89. The TSX energy index added a fraction of a point to close at 470.01.

Oil prices see-sawed, with Brent climbing above $107 (U.S.) after the United States attacked Iran's Qeshm Island near the Strait of Hormuz, then retreating on renewed reports of peace deal progress. With Americans heading to the polls today for the closely watched midterms, the timing of the apparent diplomatic thaw did not go unnoticed. "Wow, the war may have ended on the very day of the U.S. midterms ... what coincidence!" quipped Ninepoint Energy fund manager Eric Nuttall on social media.

Here in Canada (for the most part), the Lundin family's International Petroleum Corp. (IPCO) added $1.54 to $38.45 on 506,700 shares, after releasing mixed but pleasing third quarter financials. Production of 44,000 barrels of oil equivalent a day came in slightly below analysts' predictions of 44,300 barrels a day. This was largely on lower international output, with assets in Malaysia and France contributing a combined 4,700 barrels a day in the quarter, down from 5,300 barrels a day in the same period last year. Rising output from Canadian assets helped fill the gap. Between that and higher commodity prices, cash flow of 70 U.S. cents a share came in nicely above analysts' predictions of 65 U.S. cents a share.

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