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Selected Crude Oil Price Daily July 2018 (Canadian dollars per cubic metre)

Selected Crude Oil Price Daily
July 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
2018-07-02 1.3168 612 658 558 593 438 375
2018-07-03 1.3254 618 648 573 626 443 380
2018-07-04 - - - - - - -
2018-07-05 1.3129 602 639 555 587 436 373
2018-07-06 1.3105 608 636 561 604 447 385
2018-07-07 - - - - - - -
2018-07-08 - - - - - - -
2018-07-09 1.3097 608 643 568 615 452 390
2018-07-10 1.3125 612 651 572 622 458 400
2018-07-11 1.3151 582 607 541 593 428 367
2018-07-12 1.3166 582 617 542 593 421 359
2018-07-13 1.3171 588 624 547 601 449 397
2018-07-14 - - - - - - -
2018-07-15 - - - - - - -
2018-07-16 1.3137 562 594 521 575 428 379
2018-07-17 1.3187 565 599 523 564 414 357
2018-07-18 1.3204 571 605 529 573 355 267
2018-07-19 1.3255 579 605 525 548 350 256
2018-07-20 1.3142 582 604 526 544 348 250
2018-07-21 - - - - - - -
2018-07-22 - - - - - - -
2018-07-23 1.3156 562 605 505 541 343 252
2018-07-24 1.3157 567 608 524 546 348 257
2018-07-25 1.3088 571 609 528 550 350 259
2018-07-26 1.3065 572 613 521 552 335 236
2018-07-27 1.3062 564 610 507 544 327 228
2018-07-28 - - - - - - -
2018-07-29 - - - - - - -
2018-07-30 1.3021 574 614 518 554 337 237
2018-07-31 1.3017 563 608 506 547 326 226
Average 1.3136 583 619 536 575 392 316

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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