Oil prices dipped on Wednesday as Canadian oil sands production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets. An ongoing fight by Middle East producers for market share in Asia also weighed on prices, countering production declines and disruptions around the world. International Brent crude oil futures LCOc1 were trading at $45.44 per barrel at 0702 GMT, down 8 cents from their last settlement, while U.S. West Texas Intermediate (WTI) crude futures were down 16 cents at $44.51 a barrel. ANZ bank said that recent “gains in prices were capped as concerns over further disruptions in Canada eased as producers looked to return to their operations.” Oil sands companies around the Canadian energy hub of Fort McMurray began […]