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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 52 cents to $63.15 on the New York Merc, while Brent for July lost 54 cents to $66.09 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.80 to WTI, up from a discount of $14.10. Natural gas for June lost 15 cents to $3.49. The TSX energy index lost 2.04 points to close at 261.76.

Oil prices had a wobbly day, as bearish supply data wrestled with bullish supply forecasts. In its latest weekly data release, the U.S. Energy Information Administration (EIA) reported that U.S. crude inventories rose by 3.5 million barrels last week, countering analysts' predictions of a 1.1-million-barrel decrease. Separately, in its latest monthly report, OPEC trimmed its outlook for U.S. supplies, yet left its forecast for global demand unchanged.

Darren Gee's Alberta gas producer, Peyto Exploration & Development Corp. (PEY), lost 38 cents to $19.25 to 2.13 million shares, after releasing its first quarter financials. Even with today's drop, the stock has added $2 since the start of the month -- and is getting close to hitting $20 for the first time since 2017 -- suggesting that investors had high hopes for the report. Peyto was certainly in fine spirits as it touted "solid" margins and "industry-leading" low costs. Production of 133,900 barrels of oil equivalent a day was in line with analysts' predictions (as it should be, given Peyto's habit of posting monthly operational updates on its website). Cash flow of $1.12 a share came in slightly higher than analysts' predictions of $1.10 a share.

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