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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost $1.12 to $59.58 on the New York Merc, closing below $60 for the first time in four years, while Brent for June lost $1.39 to $62.82 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.20 to WTI, down from a discount of $11.10. Natural gas for May lost 19 cents to $3.46. The TSX energy index lost 11.15 points to close at 220.65.

Oil prices continued their freefall. Meanwhile, Canadian pipeline giant TC Energy Corp. (TRP: $63.50) and its six-month-old liquids pipeline spinoff, South Bow Corp. (SOBO: $31.10), were in the news after the 620,000-barrel-a-day cross-border Keystone oil pipeline was shut down because of a spill in North Dakota. (The pipeline was built by TC Energy in 2011 and has been managed by South Bow since 2024.) A spokesman for the state's environmental department told the press that the line was shut down within two minutes of a problem being detected and that the spill, which is confined to a field, did not affect people, structures or a nearby stream. As of this writing, the size and cause of the spill and the timeline for a restart remain unknown.

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