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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost $3.13 to $101.94 on the New York Merc, while Brent for July (new front month) lost $2.23 to $108.17 (all figures in this para U.S.). Despite today's slide, both benchmarks notched a second straight weekly gain. Western Canadian Select traded at a discount of $20.00 to WTI, up from a discount of $22.30. Natural gas for June added two cents to $2.78. The TSX energy index lost 4.62 points to close at 425.68.

The oil patch had some intriguing news to end the week: A pipeline nicknamed the Keystone XL redux has received a U.S. presidential permit. Yesterday afternoon, this permit was granted to Bridger Pipeline to build a 550,000-barrel-a-day line from the Canadian border through Montana and Wyoming. The line is seen as a partial revival of the defunct cross-border Keystone XL proposal because the border origin point links up with the partially built, fully permitted Keystone XL leg on the Canadian side. (On the U.S. side, successive administrations repeatedly killed and resurrected Keystone XL until its proponent cancelled the whole thing in 2021.)

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