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Selected Crude Oil Price Daily June 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
2017-05-01 1.3500 411 427 387 409 324 290
2017-06-02 1.3504 405 412 381 403 318 285
- - - - - - - -
- - - - - - - -
2017-06-05 1.3483 402 420 388 400 315 282
2017-06-06 1.3461 408 424 382 403 321 288
2017-06-07 1.3492 388 408 362 386 299 269
2017-06-08 1.3503 388 406 363 390 299 267
2017-06-09 1.3453 388 407 363 389 300 268
- - - - - - - -
- - - - - - - -
2017-06-12 1.3415 389 407 365 393 301 270
2017-06-13 1.3238 387 406 363 391 300 269
2017-06-14 1.3209 372 390 348 379 285 251
2017-06-15 1.3283 371 392 348 379 286 254
2017-06-16 1.3232 372 394 349 377 288 257
- - - - - - - -
- - - - - - - -
2017-06-19 1.3220 368 390 344 372 277 243
2017-06-20 1.3267 361 384 337 364 271 237
2017-06-21 1.3310 356 375 332 356 267 233
2017-06-22 1.3241 356 377 330 355 271 238
2017-06-23 1.3268 359 380 333 358 273 239
- - - - - - - -
- - - - - - - -
2017-06-26 1.3238 361 382 335 360 276 242
2017-06-27 1.3188 367 387 341 367 282 249
2017-06-28 1.3060 368 389 336 368 285 253
2017-06-29 1.3015 368 388 336 369 286 255
2017-06-30 1.2977 376 391 352 378 296 264
Average 1.3298 378 397 353 379 292 259

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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