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Selected Crude Oil Price Daily December 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
2017-12-01 1.2729 467 508 453 480 330 259
2017-12-02 - - - - - - -
2017-12-03 - - - - - - -
2017-12-04 1.2695 459 499 442 469 319 251
2017-12-05 1.2680 460 501 438 470 321 253
2017-12-06 1.2757 449 491 424 450 301 229
2017-12-07 1.2843 458 502 431 454 302 225
2017-12-08 1.2860 464 513 433 456 300 220
2017-12-09 - - - - - - -
2017-12-10 - - - - - - -
2017-12-11 1.2854 469 523 433 451 293 209
2017-12-12 1.2871 463 513 424 438 248 149
2017-12-13 1.2852 458 505 419 432 241 146
2017-12-14 1.2805 459 510 421 436 258 171
2017-12-15 1.2834 463 510 424 439 253 161
2017-12-16 - - - - - - -
2017-12-17 - - - - - - -
2017-12-18 1.2865 463 513 424 443 265 178
2017-12-19 1.2886 466 517 403 440 256 164
2017-12-20 1.2842 469 521 407 441 252 159
2017-12-21 1.2734 467 520 405 439 253 160
2017-12-22 1.2759 469 524 407 434 257 164
2017-12-23 - - - - - - -
2017-12-24 - - - - - - -
2017-12-24 - - - - - - -
2017-12-26 1.2759 481 538 410 453 269 176
2017-12-27 1.2641 474 528 403 446 264 172
2017-12-28 1.2588 474 528 403 446 177 172
2017-12-29 1.2545 477 526 410 449 272 182
2017-12-30 - - - - - - -
2017-12-31 - - - - - - -
Average 1.2770 465 515 421 448 271 190

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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