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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added $2.00 to $87.83, while Brent for October added $2.16 to $93.78 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.20 to WTI, unchanged. Natural gas for September lost eight cents to $2.73. The TSX energy index added 6.07 points to close at 449.61.

Oil prices climbed again after U.S. President Donald Trump emphasized his new policy of economic "warfare" against Iran, the likes of which have "never been seen." He also threatened severe economic consequences for any country that provides "any type of lifeline to Iran." Iran responded by denouncing Mr. Trump's "economic terrorism" and vowing to continue defending its sovereignty and interests.

Within the oil patch, the Montney- and Permian-focused Ovintiv Inc. (OVV) added $1.47 to $92.02 on 238,500 shares, after receiving a credit-related nudge in the right direction. Credit rating agency S&P Global Ratings upgraded its outlook on the company to "positive" from "stable," with an unchanged investment-grade rating of BBB-. The agency patted Ovintiv on the back for finally achieving its goal of getting its debt below $4-billion (U.S.). (Net debt was just under $3-billion (U.S.) as of June 30, a sizable $2.2-billion (U.S.) drop from the start of the year.)

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