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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 49 cents to $60.56 on the New York Merc, while Brent for January lost 45 cents to $64.44 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.10 to WTI, up from a discount of $12.40. Natural gas for December added seven cents to $4.34. The TSX energy index lost 3.36 points to close at 283.85.

The Lundin family's International Petroleum Corp. (IPCO) added 84 cents to $23.54 on 220,700 shares, pleasing investors with its third quarter financials and an improved schedule for its Blackrod oil sands project. "Another strong quarter for IPC," summarized a cheerful president and chief executive officer William Lundin (son of late Lukas Lundin and grandson of the late Adolf Lundin). Production during the quarter averaged 45,900 barrels a day, and operating cash flow came to 58 U.S. cents a share. Analysts had been predicting just 44,500 barrels a day and 48 U.S. cents a share.

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