Canadian crude prices surge as fire hits Shell, Suncor output
The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as 1 million barrels a day of output.
Western Canadian Select, the benchmark for oil sands production, strengthened $1 to an $11.85-a-barrel discount to U.S. West Texas Intermediate on Thursday, the narrowest spread since July, data compiled by Bloomberg show. The absolute price rose $1.54 to $32.47 a barrel.
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