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Selected Crude Oil Price Daily February 2018 (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
2018-02-01 1.2288 509 534 454 489 273 175
2018-02-02 1.2380 510 534 456 494 272 173
2018-02-03 - - - - - - -
2018-02-04 - - - - - - -
2018-02-05 1.2483 504 531 452 489 262 163
2018-02-06 1.2530 500 527 449 492 263 164
2018-02-07 1.2546 488 517 439 487 261 164
2018-02-08 1.2585 484 513 434 478 278 164
2018-02-09 1.2609 470 498 418 467 287 199
2018-02-10 - - - - - - -
2018-02-11 - - - - - - -
2018-02-12 1.2603 470 496 419 468 302 218
2018-02-13 1.2600 469 497 418 469 303 222
2018-02-14 1.2562 479 509 429 484 277 188
2018-02-15 1.2507 483 506 431 487 273 186
2018-02-16 1.2540 487 511 441 491 276 185
2018-02-17 - - - - - - -
2018-02-18 - - - - - - -
2018-02-19 - - - - - - -
2018-02-20 1.2622 491 518 446 495 268 171
2018-02-21 1.2671 492 521 446 498 265 166
2018-02-22 1.2709 502 531 456 509 272 172
2018-02-23 1.2668 506 536 468 511 287 192
2018-02-24 - - - - - - -
2018-02-25 - - - - - - -
2018-02-26 1.2686 510 539 472 516 297 204
2018-02-27 1.2740 505 534 468 513 301 212
2018-02-28 1.2809 497 530 461 505 293 203
Average 1.2586 492 520 445 492 280 185

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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