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Selected Crude Oil Price Daily December 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
2018-12-01 - - - - - - -
2018-12-02 - - - - - - -
2018-12-03 1.3197 440 507 317 298 249 207
2018-12-04 1.3262 444 504 294 307 244 194
2018-12-05 1.3355 444 509 301 320 259 209
2018-12-06 1.3383 433 499 358 375 278 233
2018-12-07 1.3322 441 505 397 399 315 280
2018-12-08 - - - - - - -
2018-12-09 - - - - - - -
2018-12-10 1.3398 430 495 396 419 322 289
2018-12-11 1.3390 435 501 403 431 342 314
2018-12-12 1.3350 430 497 402 424 322 289
2018-12-13 1.3355 442 510 418 444 341 308
2018-12-14 1.3384 431 499 407 433 326 291
2018-12-15 - - - - - - -
2018-12-16 - - - - - - -
2018-12-17 1.3407 421 488 397 423 315 280
2018-12-18 1.3466 392 467 320 348 259 222
2018-12-19 1.3484 400 473 324 345 271 233
2018-12-20 1.3509 388 459 324 339 256 212
2018-12-21 1.3602 388 451 326 339 249 202
2018-12-22 - - - - - - -
2018-12-23 - - - - - - -
2018-12-24 1.3597 362 425 300 312 223 176
2018-12-25 - - - - - - -
2018-12-26 1.3574 395 463 331 343 254 207
2018-12-27 1.3619 382 451 318 331 241 194
2018-12-28 1.3638 389 445 325 337 252 207
2018-12-29 - - - - - - -
2018-12-30 - - - - - - -
2018-12-31 1.3637 390 456 327 355 254 209
Average 1.3446 414 480 349 366 279 238

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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