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

Selected Crude Oil Price Daily
August 2018 (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
2018-08-01 1.3002 546 607 504 558 312 211
2018-08-02 1.3014 564 601 525 585 312 207
2018-08-03 1.2983 559 598 515 584 306 199
2018-08-04 - - - - - - -
2018-08-05 - - - - - - -
2018-08-06 1.2983 564 602 519 588 308 209
2018-08-07 1.3023 567 611 521 582 305 198
2018-08-08 1.3052 550 593 498 564 295 188
2018-08-09 1.3004 546 589 479 555 322 228
2018-08-10 1.3113 558 601 492 566 335 243
2018-08-11 - - - - - - -
2018-08-12 - - - - - - -
2018-08-13 1.3136 555 600 456 530 314 218
2018-08-14 1.3087 552 596 472 526 320 227
2018-08-15 1.3138 537 585 457 512 310 221
2018-08-16 1.3152 542 581 460 513 306 218
2018-08-17 1.3081 542 584 460 512 298 206
2018-08-18 - - - - - - -
2018-08-19 - - - - - - -
2018-08-20 1.3065 546 587 464 509 295 200
2018-08-21 1.3036 552 591 470 511 298 201
2018-08-22 1.3016 565 608 472 527 335 247
2018-08-23 1.3063 566 610 473 529 335 247
2018-08-24 1.3036 572 615 479 535 342 254
2018-08-25 - - - - - - -
2018-08-26 - - - - - - -
2018-08-27 1.2986 563 618 485 538 334 243
2018-08-28 1.2917 557 614 482 532 335 247
2018-08-29 1.2931 565 627 490 541 348 262
2018-08-30 1.298 574 629 492 547 351 264
2018-08-31 1.3055 573 634 491 546 349 261
Average 1.3037 557 604 485 543 320 226

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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