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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery added $4.80 to $92.16, while Brent for August (new front month) added $3.86 to $94.98 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.70 to WTI, down from a discount of $14.60. Natural gas for July lost 11 cents to $3.17. The TSX energy index added 8.67 points to close at 416.72.

Oil prices were jolted higher after Iran's state-affiliated Tasnim news agency said Tehran is stopping negotiations with the United States over alleged ceasefire violations and will move to "completely" block the Strait of Hormuz. In response, U.S. President Donald Trump informed CNBC that he "couldn't care less" if Iran suspended negotiations because they had "started to get very boring." He then posted hours later on social media that talks with Iran are "continuing, at a rapid pace." Traders did their best to parse the typically contradictory comments, with oil surging as much as $6 (U.S.) in early trading before paring some of those gains.

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