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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 40 cents to $62.28 on the New York Merc, while Brent for November lost 11 cents to $66.57 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.50 to WTI, up from a discount of $11.90. Natural gas for October lost eight cents to $2.80. The TSX energy index added 3.90 points to close at 287.27.

Canada's largest oil and gas lobby group has crunched the numbers and found 10.8 billion reasons to love the B.C. gas industry. A new iTOTEM Analytics report, commissioned by the Canadian Association of Petroleum Producers (CAPP), says B.C. gas producers made $10.8-billion in supply chain expenditures across the province from 2018 to 2024, tapping over 2,200 businesses from Victoria-based engineering firms to indigenous-owned construction companies up north. Since 2018, the gas sector has increased its annual spending by 100.3 per cent, according to the report. That includes a fivefold increase in procurement from indigenous-owned businesses.

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