Canada

Oil prices edged lower Friday but posted a second straight weekly gain, as traders continued to focus on supply disruptions.

Firefighting efforts and favorable weather conditions stopped the growth of forest fires in northern Alberta that have prompted evacuations and disrupted crude-oil production, provincial officials said.

The start of bank earnings season and an interest-rate decision from the Bank of Canada are key events for the week.

Canadian retail sales fell in March, retracing some of the gains recorded over the previous two months amid a steep decline in car-dealership sales.

Canada’s annual inflation accelerated in April, led by higher prices for passenger vehicles and electricity.

Oil Search Ltd. made a US$2.2 billion deal to buy InterOil Corp. amid a growing natural-gas glut, in an effort to consolidate gas developments on Papua New Guinea,

The threat from forest fires in northern Alberta receded further with the blazes moving away from oil-sands facilities and an evacuated town nearby as cooler, wetter weather aided firefighting efforts.

Kinder Morgan Inc.’s proposed expansion of a crude oil pipeline connecting Alberta’s oil sands to the Canadian Pacific coast cleared a key hurdle on Thursday after a government advisory panel recommended it, subject to dozens of conditions.

Canadian Prime Minister Justin Trudeau issued his second apology in as many days on Thursdayfor his role in a physical altercation in the country’s legislature, the latest in a string of setbacks that could mark the end of the honeymoon phase for the Liberal leader.

Canada Pension Plan Investment Board said Thursday that it generated a net investment return of 3.4% for fiscal 2016, beating its internal benchmark as gains in real estate, infrastructure and other private holdings offset losses in public equities.

Morley Safer, one of the best-known American television journalists of the past five decades, died Thursday at his home in Manhattan, his employer, CBS News, said. He was 84.

Mark Wiseman, chief executive of the Canada Pension Plan Investment Board, will join BlackRock Inc. in September as head of global active equity.

Canadian wholesale sales fell for a second-straight month in March, led by lower motor vehicle and food sales.

Canadian Prime Minister Justin Trudeau apologized after he was involved in a brief melee on the floor of the legislature in which a female lawmaker said he elbowed her.

Forest fires in Northern Alberta continued to grow Wednesday, but local officials said winds carried the flames away from an evacuated town and oil-sands production sites that have been shut down for two weeks because of the wildfire threat.

Oil prices fell Wednesday, erasing earlier gains, as a strong dollar outweighed signs of robust demand for refined products such as gasoline.

Wildfires have ravaged Canada in recent days. Satellite images captured these—and other blazes—from space.

Canadian housing starts are expected to ease this year and next from 2015 levels amid a slowdown in growth from oil-producing provinces, the country’s housing agency said on Wednesday.

Forest fires in Northern Alberta spread to the edges of two major oil-sands mining complexes, government officials said, a day after 8,000 workers evacuated camps and production facilities at risk from uncontrolled blazes.