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Selected Crude Oil Price Daily January 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
2019-01-02 1.3579 398 460 365 387 289 252
2019-01-03 1.3488 400 463 374 393 293 254
2019-01-04 1.3374 403 476 374 398 297 260
2019-01-05 - - - - - - -
2019-01-06 - - - - - - -
2019-01-07 1.3299 406 476 380 398 318 286
2019-01-08 1.3274 416 482 389 418 340 315
2019-01-09 1.3209 435 503 411 441 364 342
2019-01-10 1.3236 438 503 415 445 372 351
2019-01-11 1.3267 431 499 408 438 373 354
2019-01-12 - - - - - - -
2019-01-13 - - - - - - -
2019-01-14 1.3285 422 489 401 427 359 338
2019-01-15 1.3266 435 498 408 434 369 352
2019-01-16 1.3255 436 505 409 436 369 352
2019-01-17 1.3279 435 505 406 429 350 325
2019-01-18 1.3260 449 518 420 448 356 327
2019-01-19 - - - - - - -
2019-01-20 - - - - - - -
2019-01-21 - - - - - - -
2019-01-22 1.3355 442 513 402 431 353 331
2019-01-23 1.3343 440 508 405 440 364 346
2019-01-24 1.3350 445 512 415 444 366 347
2019-01-25 1.3218 445 508 415 442 365 345
2019-01-26 - - - - - - -
2019-01-27 - - - - - - -
2019-01-28 1.3262 434 496 402 432 354 337
2019-01-29 1.3269 445 508 407 443 370 353
2019-01-30 1.3149 449 507 418 446 377 359
2019-01-31 1.3125 444 503 411 441 366 344
Average 1.3292 431 497 402 429 351 327

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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