| U.S. and global oil benchmarks fell Monday as reports said Canada’s wildfires that have curtailed oil output there have slowed and moved away from key production facilities. After jumping more than 2% as the markets opened with Asian trading Sunday night, both major contracts fell as reports emerged that the threat from the fires was diminishing, at least for the moment.
The market’s losses deepened midmorning Monday as private energy data forecaster Genscape Inc. said inventories at the key U.S. delivery hub in Cushing, Okla., rose 1.4 million barrels last week, according to reports...............................................Full Article: Source
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