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Selected Crude Oil Price Daily March 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
2021-03-01 1.2646 482 504 461 490 389 344
2021-03-02 1.2635 475 495 454 479 385 341
2021-03-03 1.2655 488 507 467 498 396 351
2021-03-04 1.2667 509 533 491 523 419 374
2021-03-05 1.2659 526 553 508 540 436 389
2021-03-06 - - - - - - -
2021-03-07 - - - - - - -
2021-03-08 1.2665 518 540 497 534 425 376
2021-03-09 1.2638 509 532 489 528 419 370
2021-03-10 1.2618 511 539 497 535 426 377
2021-03-11 1.2533 520 547 503 545 434 385
2021-03-12 1.2475 515 540 496 536 428 381
2021-03-13 - - - - - - -
2021-03-14 - - - - - - -
2021-03-15 1.2472 513 537 494 530 426 380
2021-03-16 1.2448 507 534 490 525 421 377
2021-03-17 1.2405 504 527 487 525 423 384
2021-03-18 1.2487 471 493 449 491 384 346
2021-03-19 1.2500 483 504 466 508 402 363
2021-03-20 - - - - - - -
2021-03-21 - - - - - - -
2021-03-22 1.2522 485 502 466 507 401 362
2021-03-23 1.2588 457 473 438 478 373 334
2021-03-24 1.2579 484 502 463 503 398 359
2021-03-25 1.2613 464 484 446 481 382 344
2021-03-26 1.2577 482 504 463 499 401 363
2021-03-27 - - - - - - -
2021-03-28 - - - - - - -
2021-03-29 1.2591 488 510 472 509 406 368
2021-03-30 1.2634 481 504 465 504 398 359
2021-03-31 1.2562 467 493 453 490 386 348
Average 1.2573 493 515 475 511 407 364

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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