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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery lost 47 cents to $63.88 on the New York Merc, while Brent for October lost 46 cents to $67.43 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.90 to WTI, down from a discount of $11.85. Natural gas for September lost one cent to $3.06. The TSX energy index lost 2.39 points to close at 268.28.

In the oil patch, it was another day, another flood of financials. Oil sands giant Canadian Natural Resources Ltd. (CNQ) lost $1.31 to $41.81 on 14 million shares, after releasing solid second quarter numbers that nonetheless kept investors on shaky ground regarding full-year guidance. Production of 1.42 million barrels of oil equivalent a day and cash flow of $1.55 a share were both in line with analysts' predictions. The company patted itself on the back for showering shareholders with $1.6-billion during the quarter, comprising $400-million in share buybacks and $1.2-billion in dividends (the 58.75-cent quarterly dividend represents a yield of 5.6 per cent). Yet these rewards seemingly could not distract the market from the company's five-month-and-counting delay in issuing updated guidance.

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