Canadian Oil - A Good Choice For Roller Coaster Fans
It has been among the most important uncertainties facing Canada’s energy industry, which has faced dramatically different views on whether Canadian oil is set for a big comeback, or mired in years of dismal pricing.
How about both? And how about both in just a week’s time?
After a terrible spring, Canadian oil traded for September delivery had quietly staged a huge rally. In the past few weeks, culminating on Monday, the synthetic crude oil that comes from oil sands operations equipped with pre-refinery-like “upgraders” sold for as much as $8 (U.S.) a barrel above the North American benchmark West Texas Intermediate.