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Selected Crude Oil Price Daily – October 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
2018-10-01 1.3058 618 707 416 462 294 186
2018-10-02 1.3141 622 703 426 459 285 170
2018-10-03 1.3156 632 697 435 459 287 162
2018-10-04 1.3061 611 688 413 438 255 133
2018-10-05 1.3047 610 698 405 430 241 112
2018-10-06 - - - - - - -
2018-10-07 - - - - - - -
2018-10-08 1.3037 609 679 412 429 244 117
2018-10-10 1.2997 613 658 390 423 229 92
2018-10-10 1.3082 602 665 378 415 215 78
2018-10-11 1.3026 581 664 313 332 172 24
2018-10-12 1.2967 582 666 349 358 186 42
2018-10-13 - - - - - - -
2018-10-14 - - - - - - -
2018-10-15 1.2932 584 654 366 381 210 80
2018-10-16 1.2907 584 644 355 377 202 69
2018-10-17 1.2983 570 654 341 345 182 46
2018-10-18 1.3040 563 652 342 359 201 76
2018-10-19 1.3095 569 623 359 365 216 96
2018-10-20 - - - - - - -
2018-10-21 - - - - - - -
2018-10-22 1.3189 574 626 350 376 215 94
2018-10-23 1.3178 550 631 294 327 169 41
2018-10-24 1.3142 552 639 313 329 174 53
2018-10-25 1.3161 557 632 309 326 201 95
2018-10-26 1.3164 560 627 311 332 202 94
2018-10-27 - - - - - - -
2018-10-28 - - - - - - -
2018-10-29 1.3067 551 607 304 321 206 104
2018-10-30 1.2998 541 589 271 292 210 117
2018-10-31 1.2998 534 590 251 285 182 82
Average 1.3062 581 652 352 375 216 94

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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