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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost 19 cents to $76.60, while Brent for August added 30 cents to $79.85 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.00 to WTI, up from a discount of $14.20. Natural gas for July added eight cents at $3.23. The TSX energy index lost 7.25 points to close at 380.72.

Oil prices had a wobbly day as traders placed bets on how quickly Middle East barrels will return to the market now that the United States and Iran have signed an interim peace deal. The deal sets a 30-day deadline for traffic through the Strait of Hormuz to be restored to full capacity, while opening a 60-day window for negotiations on Iran's nuclear program. U.S. President Donald Trump has threatened to resume attacks on Iran if the two sides cannot reach a comprehensive accord.

Here in Canada, oil and gas stocks had a quiet day, seemingly settling into their U.S. counterparts' Friday-esque lull a day early (U.S. markets are closed tomorrow for Juneteenth). Several of them crossed a not-so-celebratory milestone by reaching levels not seen since the start of the war. Stocks that have given back all of their war-spiked gains (and in some cases fallen further) include Imperial Oil Ltd. (IMO: $159.16), Canadian Natural Resources Ltd. (CNQ: $57.95), Peyto Exploration & Development Corp. (PEY: $24.44), Headwater Exploration Inc. (HWX: $12.09), Kelt Exploration Ltd. (KEL: $8.70) and more.

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