Selected Crude Oil Price Daily May 2016

Date Exchange Rate Cdn Light Sweet* Cdn Heavy Hardisty Cdn Light Chicago WTI NYMEX Chicago Brent Chicago Cdn Heavy Chicago Brent Montreal Brent Sarnia
$ Cdn/m3
2016-05-01 - - - - - - - - -
2016-05-02 1.2548 326 246 363 369 408 288 402 418
2016-05-03 1.2686 320 240 358 364 401 282 395 412
2016-05-04 1.2884 320 251 358 370 390 292 384 401
2016-05-05 1.2853 339 261 377 374 393 303 386 403
2016-05-06 1.2921 342 266 380 379 396 307 392 408
2016-05-07 - - - - - - - - -
2016-05-08 - - - - - - - - -
2016-05-09 1.2994 343 260 381 371 384 302 380 396
2016-05-10 1.2959 362 264 400 380 399 306 394 410
2016-05-11 1.2836 352 272 390 389 412 314 407 424
2016-05-12 1.2858 358 278 396 393 416 320 412 428
2016-05-13 1.2940 358 280 396 392 417 322 410 427
2016-05-14 - - - - - - - - -
2016-05-15 - - - - - - - - -
2016-05-16 1.2887 366 290 404 402 425 331 418 435
2016-05-17 1.2885 370 297 408 407 419 339 413 429
2016-05-18 1.2928 371 293 409 407 420 335 413 430
2016-05-19 1.3116 385 298 423 413 431 340 424 441
2016-05-20 1.3136 383 295 421 410 430 337 425 442
2016-05-21 - - - - - - - - -
2016-05-22 - - - - - - - - -
2016-05-23 1.3136 379 298 417 413 427 340 422 439
2016-05-24 1.3118 383 302 421 417 428 344 424 440
2016-05-25 1.3090 390 310 428 424 437 352 432 449
2016-05-26 1.2981 388 307 426 420 431 349 426 443
2016-05-27 1.3003 387 307 425 419 434 349 428 445
2016-05-28 - - - - - - - - -
2016-05-29 - - - - - - - - -
2016-05-30 - - - - - - - - -
2016-05-31 1.3100 391 308 429 420 437 350 431 448
Average 1.2946 363 282 401 397 416 324 410 427

Explanatory Note for Crude Oil Prices

  • All prices are settlement prices, for delivery in the prompt month.
  • NYMEX:  The New York Mercantile Exchange (NYMEX), the world's largest physical commodity futures exchange.

Canadian Heavy Hardisty:  Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta. Prices are based on daily closing prices for WCS posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre.

Canadian Heavy Chicago:  Prices are based on Canadian Heavy Hardisty with pipeline tolls added for transportation to refineries in the Chicago area. Pipeline toll rates are obtained from the National Energy Board (NEB) and the US Federal Energy Regulatory Commission (FERC) which regulate pipeline tolls in Canada and the US respectively.

Canadian Light Sweet:  Canadian Light Sweet (CLS) is the main Canadian benchmark price for light sweet crude and specifies delivery at Edmonton, Alberta. Prices are based on daily closing prices for CLS crude posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre.

Canadian Light Sweet Chicago:  Prices are based on Canadian Light Sweet with pipeline tolls added for transportation to refineries in the Chicago area. Pipeline toll rates are obtained from the National Energy Board (NEB) and the US Federal Energy Regulatory Commission (FERC) which regulate pipeline tolls in Canada and the US respectively.

West Texas Intermediate Chicago:  West Texas Intermediate (WTI) is the main benchmark price for light sweet crude in North America and specifies delivery at Cushing, Oklahoma. Prices are based on daily closing prices for WTI posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre. Pipeline tolls are added for transport from Cushing to Chicago with toll rates obtained from the US Federal Energy Regulatory Commission (FERC) which regulates pipeline tolls in the US.

Brent Chicago:  Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom. Prices are based on daily closing prices for Brent posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre. Transportation costs are added for shipping Brent crude by tanker to the US Gulf Coast, and transporting by pipeline to Chicago. Tanker rates are obtained from Bloomberg and pipeline toll rates are obtained from the US Federal Energy Regulatory Commission (FERC).

Note: In recent years with the expansion of US domestic production and increased crude imports from Canada, Brent is no longer being shipped to Chicago refineries. Brent Chicago is a hypothetical crude oil price.

Brent Montreal:  Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom. Prices are based on daily closing prices for Brent posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre. Transportation costs are added for shipping Brent crude by tanker to Portland, Maine, where it is transferred to a pipeline and transported to Montreal. Tanker rates are obtained from Bloomberg and pipeline toll rates are obtained from the National Energy Board (NEB) and the US Federal Energy Regulatory Commission (FERC) which regulate pipeline tolls in Canada and the US respectively.

Brent Sarnia:  Brent is the main benchmark price for light sweet crude oil in international markets and specifies delivery at Sullom Voe terminal, United Kingdom. Prices are based on daily closing prices for Brent posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre. Transportation costs are added for shipping Brent crude by tanker to Portland, Maine, where it is transferred to a pipeline and transported to Montreal. Tanker rates are obtained from Bloomberg and pipeline toll rates are obtained from the National Energy Board (NEB) and the US Federal Energy Regulatory Commission (FERC) which regulate pipeline tolls in Canada and the US respectively.

Note: With the reversal of the Enbridge Line 9 pipeline, Brent is no longer being shipped to Sarnia refineries. Brent Sarnia is a hypothetical crude oil price.