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International benchmarks for oil prices fell on Monday (9 May) as wildfire, which has been causing precautionary shutdown at Canada oil sands facilities is now moving away from key production site. Analysts are now estimating the time span it might take for Canadian oil sands producers to ramp up production as fire threat is over. Besides, private energy data forecaster Genscape Inc. said inventories at the key US delivery hub in Cushing, rose 1.4 million barrels last week, adding more bearish factors to the sentiment.

WTI closed at $43.44/barrel (-$1.22) June delivery

Brent closed at $43.63/barrel (-$1.74) July delivery