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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added $3.21 to $91.49, while Brent for December added $4.08 to $104.28 (all figures in this para U.S.). Western Canadian Select traded at a discount of $29.40 to WTI, down from a discount of $25.10. Natural gas for November lost four cents to $3.16. The TSX energy index added 12.41 points to close at 455.08.

Oil prices jumped on escalating tensions in the Middle East, after an attack on a tanker near Qatar, more than 500 kilometres away from the usual flashpoint in the Strait of Hormuz, raised fears of broadening regional disruptions. Strikes on tankers in the Strait of Hormuz are also at their highest weekly level since the start of the U.S.-Iran war, according to maritime security firms. Closer to home, oil and gas producers in the U.S. Gulf of Mexico have shut in 1.3 million barrels a day (roughly two-thirds of their output) as a precaution against Hurricane Isaias, projected to make landfall tomorrow.

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