Hard-nosed negotiating by railway companies is keeping Canadian oil producers from cashing in on a world-wide oil price rally. Oil producers such as Imperial Oil Ltd. IMO 0.13% , Suncor Energy Inc. SU 1.24% and Cenovus Energy Inc. CVE -0.29% have few avenues to ship their oil to the U.S., their primary market. The pipelines that normally take the crude are almost at capacity, which leaves railroads as the only option for larger shipments. But Canada’s largest railway companies, Canadian Pacific Railway Ltd. CP 0.23% and Canadian National Railway Co. CNI 0.93% , in recent weeks have signaled that they are in no rush to take the oil. They fear oil companies will fill their cars with shorter-term contracts now but shift quickly to pipelines when new capacity becomes available in a few years. The rail companies want long-term commitments longer than two years, which the oil companies are […]