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Selected Crude Oil Price Daily January (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
2021-01-01 - - - - - - -
2021-01-02 - - - - - - -
2021-01-03 - - - - - - -
2021-01-04 1.2778 383 402 334 351 260 205
2021-01-05 1.2669 398 421 351 364 276 220
2021-01-06 1.2677 404 427 354 365 279 224
2021-01-07 1.2691 406 430 361 373 286 232
2021-01-08 1.2702 417 446 375 386 301 247
2021-01-07 - - - - - - -
2021-01-08 - - - - - - -
2021-01-11 1.2784 420 442 376 386 303 251
2021-01-12 1.2711 425 450 384 395 325 282
2021-01-13 1.2698 423 444 385 399 332 293
2021-01-14 1.264 426 445 393 409 340 302
2021-01-15 1.2732 419 436 386 403 334 296
2021-01-16 - - - - - - -
2021-01-17 - - - - - - -
2021-01-18 - - - - - - -
2021-01-19 1.2735 424 444 391 408 314 266
2021-01-20 1.2636 423 439 383 403 310 261
2021-01-21 1.2637 422 443 384 403 310 262
2021-01-22 1.2733 418 439 381 399 305 256
2021-01-23 - - - - - - -
2021-01-24 - - - - - - -
2021-01-25 1.274 423 444 385 406 313 265
2021-01-26 1.2694 420 443 382 404 314 267
2021-01-27 1.2799 425 442 387 405 320 274
2021-01-28 1.283 422 442 386 406 319 272
Average 1.2716 417 438 376 393 308 260

Note: Prices are not reported on weekends and American statutory holidays.

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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