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Selected Crude Oil Price Daily February 2019 (Canadian dollars per cubic metre)

Date Exchange Rate WTI
Cushing
Brent
Sullom Voe,
UK
Mixed Sweet
Blend
Edmonton
Synthetic
Edmonton
Western Canada Select
Hardisty
Implied Bitumen
Hardisty
2019-02-01 1.3102 455 515 421 447 365 334
2019-02-02 - - - - - - -
2019-02-04 1.3110 450 516 417 442 365 336
2019-02-05 1.3126 443 510 416 448 369 344
2019-02-06 1.3214 449 516 421 452 372 347
2019-02-07 1.3308 441 515 410 437 354 328
2019-02-08 1.3278 440 517 410 440 348 321
2019-02-09 - - - - - - -
2019-02-10 - - - - - - -
2019-02-11 1.3302 439 514 407 439 346 319
2019-02-12 1.3238 442 519 412 446 355 329
2019-02-13 1.3254 449 529 420 450 364 338
2019-02-14 1.3295 455 537 425 456 367 340
2019-02-15 1.3244 463 550 426 467 354 320
2019-02-16 - - - - - - -
2019-02-17 - - - - - - -
2019-02-18 - - - - - - -
2019-02-19 1.3211 466 548 433 470 344 305
2019-02-20 1.3176 472 552 430 459 358 322
2019-02-21 1.3232 472 554 439 464 368 335
2019-02-22 1.3135 472 550 438 469 366 332
2019-02-23 - - - - - - -
2019-02-24 - - - - - - -
2019-02-25 1.3187 459 533 423 452 348 312
2019-02-26 1.3169 460 539 422 454 360 327
2019-02-27 1.3156 471 545 434 465 375 342
2019-02-28 1.3172 474 545 439 467 375 342
Average 1.3206 456 532 423 454 361 330

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.

Mixed Sweet Blend: Mixed Sweet Blend (MSW) is the main Canadian benchmark price for mixed light sweet crude, blended 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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