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Selected Crude Oil Price Daily May 2017

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 1.3660 420 444 403 428 342 308
2017-05-02 1.3720 411 435 394 417 332 298
2017-05-03 1.3714 413 438 393 418 333 299
2017-05-04 1.3743 393 418 374 398 313 279
2017-05-05 1.3712 399 423 378 400 316 280
2017-05-06 - - - - - - -
2017-05-07 - - - - - - -
2017-05-08 1.3705 400 425 378 399 315 278
2017-05-09 1.3728 396 421 373 394 309 271
2017-05-10 1.3672 407 432 384 406 321 285
2017-05-11 1.3707 412 438 389 409 327 291
2017-05-12 1.3714 413 439 389 408 328 294
2017-05-13 - - - - - - -
2017-05-14 - - - - - - -
2017-05-15 1.3641 419 445 395 413 336 301
2017-05-16 1.3596 416 442 392 410 331 296
2017-05-17 1.3614 420 447 396 416 335 302
2017-05-18 1.3596 422 449 398 417 337 303
2017-05-19 1.3544 429 457 399 426 344 310
2017-05-20 - - - - - - -
2017-05-21 - - - - - - -
2017-05-22 1.3592 432 459 402 430 348 314
2017-05-23 1.3490 437 460 410 432 351 316
2017-05-24 1.3460 435 457 408 430 350 316
2017-05-25 1.3662 414 435 388 416 330 296
2017-05-26 1.3456 421 441 396 421 338 304
2017-05-27 - - - - - - -
2017-05-28 - - - - - - -
2017-05-29 - - - - - - -
2017-05-30 1.3469 421 439 398 423 339 306
2017-05-31 1.3500 410 427 387 412 328 295
Average 1.3623 415 440 392 415 332 297

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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