Oil Slides; Focus Turns from Canada Fire to US Stockpiles

NEW YORK, May 9 (Reuters) - Oil prices tumbled on Monday on expectations that U.S. crude inventories would again build to record highs, taking the market's focus off swooning Canadian oil output due to raging wildfires. Brent settled almost 4 percent lower, with U.S. crude down almost 3 percent. In early trading, oil rallied more than 2 percent as investors considered the loss of half, or more than 1 million barrels per day (bpd), of Canadian oilsands supply. Canada exports almost all its crude from oilsands to the United States. - See more at: http://www.rigzone.com/news/oil_gas/a/144393/Oil_Slides_Focus_Turns_from_Canada_Fire_to_US_Stockpiles#sthash.yii7dJcM.dpuf