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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost $1.32 to $77.91 on the New York Merc, while Brent for July lost $1.74 to $81.86 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.90 to WTI, up from a discount of $12.60. Natural gas for July lost 10 cents to $2.57. The TSX energy index added 1.09 points to close at 296.54.

Western Canadian gas producers perked up on a positive final investment decision for a $1.35-billion LPG (liquefied petroleum gas) export terminal in British Columbia. Calgary-based utility AltaGas Ltd. (ALA: $30.22) and the Netherlands-based Royal Vopak announced that they will go ahead with their Ridley Island energy export facility (REEF) near Prince Rupert. REEF has its key federal and provincial permits in hand and should come on-line in late 2026, ready to "continue connecting Canadian energy to Asian markets," cheered AltaGas. This is welcome news for producers of Canadian energy, particularly in the Montney, which (according to a recent management presentation) is "the key supply resource" for AltaGas's "forward outlook."

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