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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery plunged $4.40 to $67.38 on the New York Merc, while Brent for December lost $4.63 to $71.42 (all figures in this para U.S.). Western Canadian Select traded at a discount of $6.90 to WTI, up from a discount of $12.90. Natural gas for November plummeted 25 cents to $2.30. The TSX energy index lost 4.98 points to close at 275.93.

Oil prices had a miserable Monday, tumbling after an Israeli strike against Iran over the weekend avoided Iranian oil infrastructure (seemingly in line with a request from the U.S. government). Citing lower risks of supply disruptions in the Middle East, Citigroup trimmed its Brent forecast for the next three months to $70 (U.S.) from $74 (U.S.). Here in Canada, energy investors prepared for a wave of third quarter financials, with reports coming this week from Athabasca Oil Corp. (ATH: $5.06), Veren Inc. (VRN: $8.41), Baytex Energy Corp. (BTE: $3.97) and others.

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