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September 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
2017-09-01 1.2390 369 410 348 381 267 218
2017-09-02 - - - - - - -
2017-09-03 - - - - - - -
2017-09-04 - - - - - - -
2017-09-05 1.2371 379 413 358 392 278 229
2017-09-06 1.2264 379 416 359 398 292 249
2017-09-07 1.2148 375 415 355 392 290 247
2017-09-08 1.2132 362 410 342 381 276 233
2017-09-09 - - - - - - -
2017-09-10 - - - - - - -
2017-09-11 1.2128 366 411 346 390 278 235
2017-09-12 1.2159 369 415 349 403 281 238
2017-09-13 1.2187 378 423 358 409 284 238
2017-09-14 1.2198 383 426 363 413 289 243
2017-09-15 1.2182 382 426 373 413 288 243
2017-09-16 - - - - - - -
2017-09-17 - - - - - - -
2017-09-18 1.2238 384 427 375 393 295 251
2017-09-19 1.2277 382 426 361 391 293 249
2017-09-20 1.2273 389 430 368 396 302 259
2017-09-21 1.2339 392 438 373 399 303 260
2017-09-22 1.2317 399 439 380 403 303 260
2017-09-23 - - - - - - -
2017-09-24 - - - - - - -
2017-09-25 1.2341 405 458 391 419 318 275
2017-09-26 1.2370 404 455 388 418 316 273
2017-09-27 1.2412 407 452 389 420 319 276
2017-09-28 1.2450 404 450 387 416 315 272
2017-09-29 1.2480 406 452 391 421 317 274
Average 1.2283 386 430 368 402 295 251

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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