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The Middle East oil shock

Oil is sold on a world market, so Canadian refiners pay the world price. No official negotiations to end the war are under way.

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Claims from: US oil closes above US$100 a barrel · Show all story claims

Alberta's August 2026 forecast prices its heavy crude US$14.80 a barrel below a US benchmark that it put at US$73.50. On September 10 that benchmark closed above US$100. Which reading of the US$14.80 fits how crude oil is sold?

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