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

Selected Crude Oil Price Daily
June 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
2018-06-01 1.2964 537 633 464 484 325 239
2018-06-02 - - - - - - -
2018-06-03 - - - - - - -
2018-06-04 1.2928 527 612 463 495 414 371
2018-06-05 1.2993 535 616 475 505 415 367
2018-06-06 1.2913 526 612 465 498 402 353
2018-06-07 1.2972 538 631 477 510 406 353
2018-06-08 1.2962 536 623 473 508 391 323
2018-06-09 - - - - - - -
2018-06-10 - - - - - - -
2018-06-11 1.2993 540 625 478 511 387 340
2018-06-12 1.3004 543 621 480 512 390 330
2018-06-13 1.2988 544 627 482 516 393 333
2018-06-14 1.3052 549 623 485 512 397 338
2018-06-15 1.3177 539 609 475 508 388 329
2018-06-16 - - - - - - -
2018-06-17 - - - - - - -
2018-06-18 1.3208 547 626 482 513 350 273
2018-06-19 1.3276 543 627 485 509 346 268
2018-06-20 1.3301 554 625 495 525 349 268
2018-06-21 1.331 549 612 490 518 342 260
2018-06-22 1.3308 574 632 515 536 365 283
2018-06-23 - - - - - - -
2018-06-24 - - - - - - -
2018-06-25 1.3303 570 625 522 539 371 295
2018-06-26 1.3306 590 639 540 567 419 355
2018-06-27 1.3307 609 645 561 590 442 380
2018-06-28 1.3267 613 650 565 595 431 364
2018-06-29 1.3168 614 658 567 591 440 376
Average 1.3129 556 627 497 526 389 324

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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