Investors Lose Faith in Oil Rally Before Canada Fires Cut Output

Updated on
  • Alberta oil-sands production down by about 40% as blaze rages
  • Money managers reduce long positions by most since February

Alberta Fire Set to Move Away From Oil Sands Sites

Speculators were losing faith in oil’s rally before wildfires spread across Canada’s oil-sands region, forcing the evacuation of more than 80,000 people and curtailing production.

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