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Selected Crude Oil Price Daily – November 2018 (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
2018-11-01 1.3086 524 593 203 244 150 63
2018-11-02 1.3110 521 593 232 253 157 67
2018-11-03 - - - - - - -
2018-11-04 - - - - - - -
2018-11-05 1.3110 520 595 250 285 174 87
2018-11-06 1.3124 514 587 233 266 165 81
2018-11-07 1.3112 509 588 218 255 150 62
2018-11-08 1.3155 502 580 214 243 146 56
2018-11-09 1.3212 500 571 216 247 147 57
2018-11-10 - - - - - - -
2018-11-11 - - - - - - -
2018-11-12 1.3247 499 567 216 249 148 59
2018-11-13 1.3238 464 534 182 224 131 49
2018-11-14 1.3242 469 539 183 214 131 46
2018-11-15 1.3178 468 545 178 219 112 9
2018-11-16 1.3148 467 548 177 219 144 56
2018-11-17 - - - - - - -
2018-11-18 - - - - - - -
2018-11-19 1.3171 470 549 180 223 149 61
2018-11-20 1.3306 446 517 204 230 138 51
2018-11-21 1.3231 453 524 215 238 156 78
2018-11-22 - - - - - - -
2018-11-23 1.3238 418 488 180 205 122 45
2018-11-24 - - - - - - -
2018-11-25 - - - - - - -
2018-11-26 1.3255 430 500 210 247 159 92
2018-11-27 1.3294 431 505 210 239 151 78
2018-11-28 1.3275 420 485 199 236 142 72
2018-11-29 1.3282 430 492 213 246 179 118
2018-11-30 1.3292 426 489 234 326 183 119
Average 1.3205 471 542 207 243 149 67

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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