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Prices for rights to Canadian oil sands the highest in 8 years

That companies are willing to pay more an indication that crude's recent rally is expected to continue

Alberta, the province which holds most of Canada's crude reserves, the world's third largest, drew an average of C$476.14 per hectare in offerings of rights in the first four months through April.


AN indication that crude's recent rally has further to run can be found in the northern forests of Alberta, where companies are paying the most in eight years to lease land for oil sands development.

Auctions attracted the highest prices since 2007 in the first four months

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