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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 27 cents to $94.81 on the New York Merc, while Brent for July lost $1.21 to $100.06 (all figures in this para U.S.). Western Canadian Select traded at a discount of $0.40 to WTI, up from a discount of $20.60. Natural gas for June added three cents to $2.76. The TSX energy index lost 5.69 points to close at 410.03.

The oil patch had another busy day of earnings. Oil sands giant Canadian Natural Resources Ltd. (CNQ) slipped $1.30 to $60.96 on 16.1 million shares, even as it touted a "top-tier" first quarter. Production of 1.64 million barrels a day and cash flow of $2.09 a share were in line with analysts' predictions of 1.64 million and $2.04. Net earnings narrowed to $1.34-billion from $2.45-billion a year earlier, but chief financial officer Victor Darel quickly redirected attention to a more favourable number -- adjusted net earnings from operations -- which edged up to $2.44-billion from $2.43-billion. (Preadjustments, the first quarter figure included $1.09-billion worth of pesky non-operating losses related to share-based compensation, hedging losses and foreign exchange.)

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