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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost 80 cents to $80.83 on the New York Merc, while Brent for August lost $1.00 to $85.01 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.40 to WTI, up from a discount of $14.10. Natural gas for July lost five cents to $2.76. The TSX energy index lost 1.40 points to close at 281.52.

European energy watchers continued to digest the latest sanctions handed down yesterday by the EU against Russia, the 14th round of sanctions since Russia's invasion of Ukraine in early 2022. The new measures include a ban on trans-shipments of Russian LNG (liquefied natural gas) to third countries via EU ports. While the effect on Russia's energy revenue is up for debate -- particularly as the EU is not actually banning Russian LNG imports, which have indeed risen since the start of the war -- the package is notable because it marks the first time that the EU has explicitly targeted Russian gas.

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