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Selected Crude Oil Price Daily November 2017 (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
2017-11-01 1.2885 440 497 427 457 325 259
2017-11-02 1.2822 440 489 427 458 328 264
2017-11-03 1.2764 447 498 434 464 332 267
2017-11-04 - - - - - - -
2017-11-05 - - - - - - -
2017-11-06 1.2746 460 515 448 476 348 283
2017-11-07 1.2785 460 512 449 477 351 290
2017-11-08 1.2729 455 508 444 472 342 282
2017-11-09 1.2692 456 510 447 474 342 282
2017-11-10 1.2683 453 507 444 475 338 274
2017-11-11 - - - - - - -
2017-11-12 - - - - - - -
2017-11-13 1.2683 453 504 444 475 341 277
2017-11-14 1.2733 446 498 438 469 333 268
2017-11-15 1.2733 443 496 434 464 329 265
2017-11-16 1.2745 442 492 433 464 328 264
2017-11-17 1.2783 455 509 446 471 330 263
2017-11-18 - - - - - - -
2017-11-19 - - - - - - -
2017-11-20 1.2793 451 503 442 473 327 261
2017-11-21 1.2778 457 500 443 476 326 257
2017-11-22 1.2729 465 502 450 481 326 253
2017-11-23 - - - - - - -
2017-11-24 1.2708 471 510 456 488 333 261
2017-11-25 - - - - - - -
2017-11-26 - - - - - - -
2017-11-27 1.2735 465 511 450 479 329 258
2017-11-28 1.2807 467 512 452 478 333 263
2017-11-29 1.2853 463 510 448 475 324 253
2017-11-30 1.2888 465 515 452 479 327 255
Average 1.2765 455 505 443 473 333 267

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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