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Selected Crude Oil Price Daily December (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
2020-12-01 1.2936 362 382 321 331 271 230
2020-12-02 1.2918 368 385 322 333 269 228
2020-12-03 1.2862 369 393 320 331 271 230
2020-12-04 1.2784 372 392 323 332 270 227
2020-12-05 - - - - - - -
2020-12-06 - - - - - - -
2020-12-07 1.2798 368 388 322 331 270 227
2020-12-08 1.2819 368 390 323 334 270 228
2020-12-09 1.2816 367 393 320 330 269 227
2020-12-10 1.2739 375 402 329 338 276 233
2020-12-11 1,2769 374 400 328 339 271 227
2020-12-12 - - - - - - -
2020-12-13 - - - - - - -
2020-12-14 1.2764 377 402 330 342 275 232
2020-12-15 1.2701 380 403 335 345 268 218
2020-12-16 1.2743 383 408 341 353 273 225
2020-12-17 1.2720 387 409 339 357 273 222
2020-12-18 1.2788 395 418 344 362 277 225
2020-12-19 - - - - - - -
2020-12-20 - - - - - - -
2020-12-21 1.2857 386 408 337 353 268 217
2020-12-22 1.2908 381 401 332 349 261 209
2020-12-23 1.2848 388 411 340 357 270 218
2020-12-24 1.2863 389 411 342 357 269 215
2020-12-25 - - - - - - -
2020-12-26 - - - - - - -
2020-12-27 - - - - - - -
2020-12-28 1.2854 385 408 340 351 263 210
2020-12-29 1.2818 387 409 340 357 264 208
2020-12-30 1.2758 388 409 340 358 269 215
2020-12-31 1.2725 388 410 342 356 265 211
Average 1.2809 379 401 332 345 270 222

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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