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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 54 cents to $79.26 on the New York Merc, while Brent for July lost 83 cents to $82.88 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.20 to WTI, up from a discount of $14.50. Natural gas for June lost eight cents to $2.67. The TSX energy index added 2.37 points to close at 298.55.

Here in Canada, the newly operational Trans Mountain pipeline expansion notched another milestone, as a tanker arrived in the Port of Vancouver to load the line's first crude export cargo. Marine traffic data show that the Dubai Angel oil tanker arrived in port yesterday. According to Reuters, the vessel will carry 550,000 barrels of crude to China, marking the first international delivery for the long-delayed pipeline expansion.

All of those barrels are from oil sands giant Suncor Energy Inc. (SU), up $1.46 to $56.03 on 28.8 million shares. Suncor is also chartering the vessel. This is not a typical cost for an oil producer, but during a quarterly conference call on May 8, management said Suncor's ability to negotiate directly with customers and handle its own deliveries (rather than relying on third party trading houses) provides a "unique" competitive advantage. "We've got a pretty sophisticated trading platform ... so we're well positioned to deliver volumes to our customers and remove that middleman and capture the full value for Suncor," boasted Dave Oldrieve, executive vice-president of the downstream division.

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