Wildfire cripples Canada's energy industry
A raging wildfire is taking a heavy toll on Canada’s energy industry, cutting the country’s daily production of heavy oil nearly in half.
Daily production is down by about 1 million barrels, with oil sands projects, pipelines and electrical facilities around Fort McMurray shut down and workers sent to safer locales.
Brent crude futures rose 36 cents at $45.37 a barrel on Friday as the inferno at a stretch of forested wilderness with the third-largest reserves of oil in the world continued to burn out of control.
Oil prices have yet to spike dramatically, largely because the outages come at a time of brimming inventories in North America.
Three major oil firms warned they will not be able to deliver on some contracts for Canadian crude. British oil firm BP said it had alerted customers to a "force majeure event" at one of its suppliers.
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