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Selected Crude Oil Price Daily March 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
2018-03-01 1.2851 493 531 459 506 293 200
2018-03-02 1.2891 497 522 462 510 300 208
2018-03-03 - - - - - - -
2018-03-03 - - - - - - -
2018-03-05 1.2977 511 535 477 530 303 203
2018-03-06 1.2898 508 534 480 534 293 193
2018-03-07 1.2947 498 524 472 537 278 167
2018-03-08 1.2927 489 517 469 523 275 172
2018-03-09 1.2840 501 529 472 525 295 195
2018-03-10 - - - - - - -
2018-03-11 - - - - - - -
2018-03-12 1.2830 495 524 466 519 289 189
2018-03-13 1.2912 493 525 461 517 286 185
2018-03-14 1.2944 496 528 465 504 287 187
2018-03-15 1.3032 502 534 469 510 284 183
2018-03-16 1.3088 513 545 480 526 306 208
2018-03-17 - - - - - - -
2018-03-18 - - - - - - -
2018-03-19 1.3079 511 543 478 525 310 218
2018-03-20 1.3077 521 555 480 536 319 227
2018-03-21 1.2958 531 566 490 550 331 239
2018-03-22 1.2908 522 559 487 540 331 243
2018-03-23 1.2856 533 570 498 549 343 255
2018-03-24 - - - - - - -
2018-03-25 - - - - - - -
2018-03-26 1.2886 531 568 496 545 337 247
2018-03-27 1.2869 528 568 493 540 345 263
2018-03-28 1.2902 522 564 487 531 348 271
2018-03-29 1.2894 527 570 491 535 333 255
Average 1.2932 511 543 478 528 309 215

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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