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Selected Crude Oil Price Daily May 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
2020-05-01 1.4089 175 208 154 174 124 112
2020-05-02 - - - - - - -
2020-05-03 - - - - - - -
2020-05-04 1.4087 181 219 168 183 145 137
2020-05-05 1.4049 217 250 202 222 175 164
2020-05-06 1.4146 213 245 198 221 172 165
2020-05-07 1.3973 207 239 185 202 153 140
2020-05-08 1.3927 214 251 203 221 184 180
2020-05-09 - - - - - - -
2020-05-10 - - - - - - -
2020-05-11 1.4007 213 245 231 233 191 187
2020-05-12 1.4078 228 241 239 241 204 199
2020-05-13 1.4101 224 247 232 222 188 180
2020-05-14 1.4050 244 266 234 232 207 201
2020-05-15 1.4109 261 280 252 250 189 218
2020-05-16 - - - - - - -
2020-05-17 - - - - - - -
2020-05-18 1.3937 279 301 277 277 205 235
2020-05-19 1.3944 285 293 235 270 202 183
2020-05-20 1.3901 295 303 251 284 209 186
2020-05-21 1.3955 300 308 254 276 216 195
2020-05-22 1.3996 295 304 252 277 217 198
2020-05-23 - - - - - - -
2020-05-24 - - - - - - -
2020-05-25 - - - - - - -
2020-05-26 1.3777 298 308 264 283 227 211
2020-05-27 1.3752 284 287 251 278 217 203
2020-05-28 1.3763 292 303 264 279 226 214
2020-05-29 1.3780 308 317 281 294 244 233
Average 1.3971 251 271 231 246 195 187

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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