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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost 33 cents to $81.62 on the New York Merc, while Brent for May lost 50 cents to $86.25 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.40 to WTI, up from a discount of $16.00. Natural gas for April lost four cents to $1.58. The TSX energy index lost 1.99 points to close at 282.15.

Oil sands giant Suncor Energy Inc. (SU) lost 46 cents to $49.49 on 14.6 million shares. Investors yawned off its hype-filled promises to "fuel new adventures" through the launch of a loyalty program with another big domestic brand, Canadian Tire. Essentially, the two of them are linking their existing loyalty programs, allowing customers to earn and redeem rewards at more stores and gas stations.

The launch is part of the arrangement created last May by these self-described "iconic Canadian brands." The main benefit, aside from copious opportunities for PR puffery, is that Suncor's Petro-Canada will become the primary fuel provider for Canadian Tire's network of more than 200 gas stations, supplying more than one billion litres of fuel annually. For context, according to SEDAR, Suncor's existing retail network of about 1,600 gas stations sold about 6.6 billion litres of fuel in each of 2022 and 2023. (It is not clear whether or how many Canadian Tire stations have started to use Suncor as their main fuel provider. Last year's press release merely said the switch would occur "over time," and subsequent SEDAR filings have continued to use the future tense.)

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