Oil prices go up as Fort McMurray fire impacts production

May 5, 2016. The raging wild fire in the Regional Municipality of Wood Buffalo has forced oil sands projects, pipelines and electrical facilities to shut down and evacuate workers. The fires and fears of a worsening supply problem, have caused oil prices to climb. Halting or reducing production in the region are Suncor Energy Inc., Imperial Oil Ltd., Athabasca Oil Corp., ConocoPhillips, and Nexen Energy ULC. Cenovus Energy Inc. with its Christina Lake oil sands plant and Canadian Natural Resources Ltd., which runs the Horizon oil sands mining operation north of the city, say production is continuing at the same rate, and although not impacted, both companies have sent away non-essential personnel. Numerous regional pipelines have shut down. Premier Rachel Notley said Thursday that no facilities have been damaged by the fire that still burns out of control and has claimed 85,000 hectares.