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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost $1.26 to $100.12 on the New York Merc, while Brent for June (new front month) lost $2.81 to $101.16 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.00 to WTI, down from a discount of $18.00. Natural gas for May lost six cents to $2.81. The TSX energy index lost 15.99 points to close at 408.53.

Oil prices fell in a volatile session, as traders bet on whether U.S. President Donald Trump -- set to speak at 9 p.m. ET -- will declare an end to the U.S-Israel-Iran war. He told reporters that the U.S. may exit Iran within two to three weeks. It is not clear, however, how quickly that might reopen the Strait of Hormuz.

Here in Canada, TSX energy stocks mostly followed crude lower, but some found ways to stem the bleeding. Corey Ruttan's Brazilian gas producer, Alvopetro Energy Ltd. (ALV), lost just five cents to $9.48 on 254,700 shares, as it trumpeted record output and an amended long-term sales agreement. First quarter production averaged 3,100 barrels a day, beating the prior record of 2,900 barrels a day in the fourth quarter.

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