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Selected Crude Oil Price Daily August 2017 (Canadian dollars per cubic metre)

Date Exchange Rate WTI
Cushing
Brent
Sullom Voe,
UK
Cdn Light Sweet
Edmonton
Synthetic
Edmonton
Western Canada Select
Hardisty
Implied
Bitumen
Hardisty
2017-08-01 1.2514 387 414 366 395 307 273
2017-08-02 1.2560 392 414 371 400 312 274
2017-08-03 1.2578 388 411 367 398 309 272
2017-08-04 1.2638 394 417 372 404 315 278
2017-08-05 - - - - - - -
2017-08-06 - - - - - - -
2017-08-07 1.2638 393 416 370 403 314 276
2017-08-08 1.2672 392 416 368 399 312 276
2017-08-09 1.2705 396 421 372 403 316 280
2017-08-10 1.2711 388 414 365 396 308 271
2017-08-11 1.2677 389 413 366 398 309 273
2017-08-12 - - - - - - -
2017-08-13 - - - - - - -
2017-08-14 1.2725 381 403 357 388 301 265
2017-08-15 1.2755 381 408 357 387 304 268
2017-08-16 1.2699 374 402 326 379 297 261
2017-08-17 1.2647 375 406 340 380 301 267
2017-08-18 1.2586 384 418 360 392 306 270
2017-08-19 - - - - - - -
2017-08-20 - - - - - - -
2017-08-21 1.2575 375 409 350 381 295 259
2017-08-22 1.2552 376 410 352 383 299 263
2017-08-23 1.2575 383 416 359 390 304 268
2017-08-24 1.2586 375 412 353 383 299 263
2017-08-25 1.2492 376 412 354 385 300 264
2017-08-26 - - - - - - -
2017-08-27 - - - - - - -
2017-08-27 1.2482 366 409 344 373 286 248
2017-08-28 1.2515 366 409 345 373 279 237
2017-08-29 1.2605 364 403 345 377 271 223
2017-08-30 1.2536 372 413 353 384 284 240
2017-08-31 1.2536 372 413 353 384 284 240
Average 1.2610 381 411 357 389 301 264

Explanatory Note for Crude Oil Prices

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

West Texas Intermediate Oil:  West Texas Intermediate (WTI) is the main benchmark price for light sweet crude in North America and specifies delivery at Cushing, Oklahoma.

Brent:  Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom.

Western Canadian Select:  Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta.

Canadian Light Sweet:  Canadian Light Sweet (CLS) is the main Canadian benchmark price for light sweet crude and specifies delivery at Edmonton, Alberta.

Synthetic Crude Oil (SCO):  Synthetic crude oil is a light crude oil that is produced by upgrading bitumen. The contract for synthetic crude oil specifies delivery at Edmonton, Alberta.

Implied Bitumen Price:  The implied bitumen price is derived from the price of Western Canadian Select (WCS), which is assumed to have a blend composition of 30% condensate and 70% bitumen. The value of the condensate is subtracted from the WCS price to arrive at the implied price of bitumen. The implied bitumen price represents the value of bitumen extracted from the oil sands before condensate is added to allow the oil to flow through pipelines.

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