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Selected Crude Oil Price Daily May 2019 (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
2019-05-01 1.3446 538 612 498 549 432 403
2019-05-02 1.3475 524 599 485 534 420 393
2019-05-03 1.342 523 601 485 532 416 386
2019-05-04 - - - - - - -
2019-05-05 - - - - - - -
2019-05-06 1.3448 527 603 490 540 422 390
2019-05-07 1.3474 520 596 476 526 404 369
2019-05-08 1.3479 527 599 483 534 416 384
2019-05-09 1.3477 523 599 473 528 410 378
2019-05-10 1.3417 520 604 474 526 408 377
2019-05-11 - - - - - - -
2019-05-12 - - - - - - -
2019-05-13 1.3478 517 602 466 518 403 369
2019-05-14 1.3462 523 606 469 518 401 365
2019-05-15 1.3438 524 616 466 519 410 375
2019-05-16 1.346 532 626 472 526 424 392
2019-05-17 1.3458 531 620 474 528 422 391
2019-05-18 - - - - - - -
2019-05-19 - - - - - - -
2019-05-20 1.3429 533 612 476 532 402 361
2019-05-21 1.3406 531 607 474 530 399 358
2019-05-22 1.3435 517 599 467 514 388 353
2019-05-23 1.3474 489 574 429 475 350 312
2019-05-24 1.3437 494 586 434 481 356 318
2019-05-25 - - - - - - -
2019-05-26 - - - - - - -
2019-05-27 - - - - - - -
2019-05-28 1.3494 502 593 437 494 358 318
2019-05-29 1.3519 500 589 437 494 358 317
2019-05-30 1.3500 481 562 416 472 335 293
2019-05-31 1.3523 468 547 404 460 327 287
Average 1.3461 516 598 463 515 394 359

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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