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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery added 45 cents to $64.60 on the New York Merc, while Brent for October added 57 cents to $68.62 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.90 to WTI, up from a discount of $13.00. Natural gas for October added five cents to $2.94. The TSX energy index added 1.13 points to close at 280.92.

Global oil demand will stay consistent with today's level through 2050, while global gas demand will rise more than 20 per cent by 2050 from last year's level, according to the closely watched annual outlook of ExxonMobil. The supermajor released its latest annual forecast this morning and stuck to its prediction that oil demand will plateau after 2030 but remain roughly at current levels of more than 100 million barrels a day. Over the same period, higher electricity use in developing countries and the push to displace higher-emission coal will lead to surging demand for gas, said Exxon.

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