Crude prices up on Canada fires, Saudi oil minister replacement

SINGAPORE (May 9): Crude prices extended gains in Asia Monday as raging wildfires hit production in Canada, while traders digested news that Saudi Arabia had replaced its oil minister.

At about 0330 GMT, US benchmark West Texas Intermediate for June delivery was up 75 cents at US$45.41 a barrel while North Sea Brent was up 51 cents at US$45.77.

Saudi Arabia, the biggest exporter in the OPEC producers' group, on Friday replaced Ali al-Naimi -- who had been in his post for two decades -- with a close ally of the deputy crown prince.

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