Firefighters in Canada are still struggling to contain a massive wildfire quickly spreading in Alberta. Light rains and cooler temperatures were helping to contain the blaze as of Sunday. Pro Farmer says estimates are that the fire has burned 395,000 acres, including around Fort McMurray at the heart of the Canadian Oil Sands Region. As a result, around half of the production in the sands area has been taken offline. Estimates are that includes up to one million barrels. The decline in production is pushing up crude oil prices, which is supporting other commodities. The wildfires are also expected to accelerate the seasonal drop in US crude prices.
Canada wildfires push crude oil higher
