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Selected Crude Oil Price Daily July 2020 (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
2020-07-01 1.3587 340 355 299 297 253 232
2020-07-02 1.3564 347 362 311 312 270 256
2020-07-03 - - - - - - -
2020-07-04 - - - - - - -
2020-07-05 - - - - - - -
2020-07-06 1.3539 346 362 308 322 283 272
2020-07-07 1.3603 348 363 307 325 283 272
2020-07-08 1.3512 348 366 311 325 283 271
2020-07-09 1.3586 339 359 300 313 266 251
2020-07-10 1.3592 347 367 305 325 276 260
2020-07-11 - - - - - - -
2020-07-12 - - - - - - -
2020-07-13 1.3609 343 359 307 324 276 262
2020-07-14 1.3615 345 368 315 334 287 274
2020-07-15 1.3509 350 371 321 340 287 273
2020-07-16 1.3574 348 371 317 335 292 281
2020-07-17 1.3580 347 368 314 327 269 248
2020-07-18 - - - - - - -
2020-07-19 - - - - - - -
2020-07-20 1.3535 347 365 316 326 269 248
2020-07-21 1.3459 355 370 323 334 275 250
2020-07-22 1.3417 353 368 322 332 273 250
2020-07-23 1.3410 346 361 314 324 264 241
2020-07-24 1.3415 347 362 316 327 267 243
2020-07-25 - - - - - - -
2020-07-26 - - - - - - -
2020-07-27 1.3356 349 362 323 343 272 249
2020-07-28 1.3380 345 357 317 336 265 240
2020-07-29 1.3340 346 362 317 340 264 239
2020-07-30 1.3423 337 360 310 333 255 228
2020-07-31 1.3412 340 361 312 334 255 227
Average 1.3501 346 364 313 328 272 253

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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