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Selected Crude Oil Price Daily May 2018 (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
2018-05-01 - - - - - - -
2018-05-02 1.2851 549 593 493 517 426 374
2018-05-03 1.2862 554 596 495 522 425 371
2018-05-04 1.2861 564 606 508 534 434 379
2018-05-05 - - - - - - -
2018-05-06 - - - - - - -
2018-05-07 1.2864 572 616 518 547 444 390
2018-05-08 1.2963 563 610 506 537 434 380
2018-05-09 1.2856 575 624 522 552 450 398
2018-05-10 1.2775 573 623 519 545 451 401
2018-05-11 1.2779 568 620 514 543 448 399
2018-05-12 - - - - - - -
2018-05-13 - - - - - - -
2018-05-14 1.2775 570 629 516 547 448 400
2018-05-15 1.2876 578 635 523 562 468 427
2018-05-16 1.2809 576 639 522 561 467 426
2018-05-17 1.2801 576 639 522 561 439 430
2018-05-18 1.2880 577 636 523 564 437 383
2018-05-19 - - - - - - -
2018-05-20 - - - - - - -
2018-05-21 1.2880 585 642 530 571 448 396
2018-05-22 1.2786 580 640 525 566 438 383
2018-05-23 1.2876 582 646 526 556 444 391
2018-05-24 1.2891 573 639 516 541 433 379
2018-05-25 1.2974 554 624 496 538 413 359
2018-05-26 - - - - - - -
2018-05-27 - - - - - - -
2018-05-28 - - - - - - -
2018-05-29 1.3020 546 617 473 522 387 323
2018-05-30 1.2897 553 629 480 523 348 265
2018-05-31 1.2948 546 632 473 520 342 257
Average 1.2868 567 625 510 544 430 377

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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