Here comes Canadian oil to douse the hottest rally since 2009. Money managers reduced bets on rising oil prices by the most in 11 months as Canadian output continued to ramp up after Alberta’s wildfires. The recovery in oil prices remains “fragile” as disrupted supplies return to the market and prolong a global surplus, according to Goldman Sachs Group Inc. “The biggest fundamental news in the market is that Canadian producers are restarting output,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “I’m not counting on the other disruptions ending soon but they are already priced in.” Supply Disruptions Crude tumbled for six straight days as producers returned to Alberta’s oil sands after last month’s wildfires that removed as much as 1.5 million barrels a day of capacity. Canadian output is expected to ramp up this month and return to normal by mid-July, the […]