Oil reverses as stronger dollar offsets Canadian concerns

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bpTwo hundred and thirty-one years after Joseph Bramah patented the beer-pump handle, and the oil market is looking a little frothy once more. Canadian wildfires continue to stoke supply concerns, while the appointment of a new Saudi oil minister has produced a whole host of conclusions. Hark, here are five things to consider relating to oil markets today:

1) While much uncertainty surrounds the Canadian wildfires, we do know there has been little damage to oil infrastructure in the region (only one site, CNOOC’s Nexen operations, has reported minor damage). Suncor, a key player in the Alberta oil sands with