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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 59 cents to $64.01 on the New York Merc, while Brent for October lost 50 cents to $68.12 (all figures in this para U.S.). Both benchmarks eked out a weekly gain, but were down on the month, snapping a three-month winning streak. Western Canadian Select traded at a discount of $12.35 to WTI, up from a discount of $12.90. Natural gas for October added five cents to $2.99. The TSX energy index lost a fraction of a point to close at 280.02.

Canada's oil patch took notice as the federal government tapped a familiar face to lead its new major projects office (MPO). Prime Minister Mark Carney's office announced this morning that former Trans Mountain executive Dawn Farrell will be in charge of the MPO as it carries out its mandate to "get nation-building projects built faster." Headquartered in Calgary rather than Ottawa, the MPO will serve a "single point of contact ... [for] streamlining and accelerating regulatory approval processes" to a maximum of two years. It will also help attract and co-ordinate financing from the private sector and all levels of government.

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