You are here

Cuts in oil supply renew bets on price rally

Output down due to violence in Nigeria, export troubles in Libya and wildfires in Canada

The Canadian wildfire doubled to an area more than five times bigger than New York City in about a week, threatening oil-sand mines.

New York

INVESTORS have some sad reasons to be optimistic about oil prices.

Outbreaks of violence in Nigeria, export troubles in a divided Libya and wildfires ripping across the Canadian oil sands are reviving wagers that crude markets will tighten. Speculators' net-long position