FED'S BARKIN: LOOKING FOR MORE EVIDENCE OF INFLATION'S DECLINE

BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

US Treasury Auction Calendar

Broad-based Softening In June Underlying Inflation Metrics

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Wildfires Encircle Canada’s Oil-Sands City: Bloomberg

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCanada Bank of Canada Market News

A ring of wildfires has erupted around Canada’s oil-sands hub Fort McMurray, adding new threats to crude production, Bloomberg said.

  • Eight out-of-control fires have been discovered south and southwest the city since July 10, while there are three blazes to the north, where the oil-sands mines are located.
  • While the new wildfires are well outside of the city’s limits, one fire to the northeast forced Suncor to cut production from its 231k b/d Firebag site.
  • Despite the recent flareup, the wildfire season is milder this year than last. Temperatures are also forecast to cool in Northern Alberta. This will likely ease concerns that supply will be disrupted.
  • In 2016, Fort McMurray was forced to cut 1m b/d of output due to wildfires. An approaching wildfire also prompted a pre-emptive partial evacuation of the city in May.
136 words

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.

A ring of wildfires has erupted around Canada’s oil-sands hub Fort McMurray, adding new threats to crude production, Bloomberg said.

  • Eight out-of-control fires have been discovered south and southwest the city since July 10, while there are three blazes to the north, where the oil-sands mines are located.
  • While the new wildfires are well outside of the city’s limits, one fire to the northeast forced Suncor to cut production from its 231k b/d Firebag site.
  • Despite the recent flareup, the wildfire season is milder this year than last. Temperatures are also forecast to cool in Northern Alberta. This will likely ease concerns that supply will be disrupted.
  • In 2016, Fort McMurray was forced to cut 1m b/d of output due to wildfires. An approaching wildfire also prompted a pre-emptive partial evacuation of the city in May.