Free Trial

Canadian Wildfires Threaten Oil Sands Hub of Fort McMurray

OIL

Residents at Canada's oil hub of Fort McMurray remain under threat from the current wildfires – potentially placing oil production under threat.

  • Hundreds of residents in four neighborhoods in the southern end of Canada’s oil sand hub of Fort McMurray, Alberta, were ordered to evacuate with a wildfire threatening the community, authorities said Tuesday.
  • Alerts for some parts of Fort McMurray turned to critical on Tuesday: https://www.alberta.ca/alberta-emergency-alert.aspx
  • It had been hoped that rain earlier this week would suppress the fire and avoid any evacuation.
  • An evacuation of 90,000 people in Fort McMurray back in 2016 because of a wildfire shut in about a million barrels daily in oil production. Authorities claim they are much better prepared to deal with the fires now.
  • So far, oil production appears unimpacted.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.