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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery added 71 cents to $65.29 on the New York Merc, while Brent for August added 57 cents to $67.04 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.20 to WTI, up from a discount of $11.50. Natural gas for July lost 15 cents to $3.63. The TSX energy index added 1.29 points to close at 262.99.

The oil patch spent the weekend taking stock of the "One Canadian Economy" bill, which was introduced Friday by the federal government and is aimed at removing interprovincial trade barriers and accelerating projects that are deemed to be in the national interest. A stated goal is to "advance major nation-building projects." Among other things, the bill proposes a streamlined and co-ordinated permitting process for eligible projects, a doubling of the Indigenous Loan Guarantee program to $10-billion (to encourage greater indigenous ownership), and an "intent" to reduce approval timelines to two years.

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