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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery lost $1.08 to $74.74 on the New York Merc, while Brent for September lost $1.15 to $78.63 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.90 to WTI, down from a discount of $12.70. Natural gas for September added nine cents to $2.13. The TSX energy index added a fraction of a point to close at 281.70.

Royalty company Topaz Energy Corp. (TPZ) added $1.17 to $25.76 on 943,700 shares, pleasing investors with its second quarter financials and its second dividend hike in four months. (Although Topaz is not a direct oil and gas producer, it collects royalties from producers across Western Canada, providing a useful barometer of industry activity.) Royalty production and cash flow were both in line with or better than analysts' predictions. In a show of confidence, Topaz -- which already increased its quarterly dividend by a penny to 31 cents in March -- nudged it up by another penny to 32 cents. The yield is now 5 per cent.

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