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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery lost $1.08 to $62.37 on the New York Merc, while Brent for November lost $1.06 to $66.03, both benchmarks closing out both the month and the quarter with a loss (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.80 to WTI, down from a discount of $9.70. Natural gas for November added three cents to $3.30. The TSX energy index lost 4.20 points to close at 286.87.

The corporate capital of the oil patch reeled as Imperial Oil Ltd. (IMO: $126.19) joined the list of companies announcing mass layoffs. In a jargon-heavy and detail-light press release yesterday evening, Imperial announced a "restructuring ... to further improve its industry-leading performance by centralizing additional corporate and technical activities and global business and technology centres" -- in other words, job cuts, most of which were subsequently confirmed to be in Calgary. The decision will affect about one-fifth of the company's head count by the end of 2027.

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