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Selected Crude Oil Price Daily February 2021 (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
2021-02-01 1.2851 433 453 397 413 331 284
2021-02-02 1.2781 440 462 405 420 350 308
2021-02-03 1.2786 448 470 412 427 355 313
2021-02-04 1.2827 454 474 421 437 361 318
2021-02-05 1.2756 456 476 427 444 373 336
2021-02-06 - - - - - - -
2021-02-07 - - - - - - -
2021-02-08 1.2739 465 484 436 449 380 343
2021-02-09 1.2693 466 488 434 448 379 341
2021-02-10 1.2701 469 488 434 450 375 334
2021-02-11 1.2705 465 487 431 447 373 333
2021-02-12 1.2696 475 502 444 460 380 337
2021-02-13 - - - - - - -
2021-02-14 - - - - - - -
2021-02-15 - - - - - - -
2021-02-16 1.2690 479 506 448 464 390 351
2021-02-17 1.2702 488 517 465 492 399 357
2021-02-18 1.2679 483 506 457 483 387 344
2021-02-19 1.2615 470 493 447 470 376 333
2021-02-20 - - - - - - -
2021-02-21 - - - - - - -
2021-02-22 1.2615 488 513 468 492 396 351
2021-02-23 1.2587 488 507 472 494 404 362
2021-02-24 1.2513 497 523 481 506 413 371
2021-02-25 1.2603 504 524 484 511 416 371
2021-02-26 1.2738 493 516 475 502 406 361
2021-02-27 - - - - - - -
2021-02-28 - - - - - - -
Average 1.2699 472 494 444 464 381 339

Note: Prices are not reported on weekends and American statutory holidays.

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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