Commodity Prices and Trade Updates

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Prices, Trade and Feature Articles

Monthly Data Tables – October 2017

The prices for each commodity in Canada track U.S. benchmark prices, with differences primarily related to the cost of transportation and regional supply and demand dynamics. Crude oil and propane prices are generally quoted in U.S. dollars, whereas natural gas and electricity prices are often quoted in Canadian dollars due to their higher proportion of domestic retail sales. Changes in the exchange rate affect revenue received for exports (or the cost of imports). The table below shows Canadian and U.S. benchmark prices, with recent month-to-month and year-over-year comparisons.

Commodity Price Update
Commodity Price Update
  2017 2016
October September YTD avg. October September Avg.
Exchange Rate Canadian $ / U.S. $ 1.21 1.23 1.30 1.33 1.31 1.33
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 51.31 48.61 49.48 49.78 45.18 43.14
Brent 57.16 54.68 52.40 49.52 46.57 43.55
Western Canadian Select 39.78 38.04 38.25 35.83 30.62 29.48
Natural Gas Prices
(CA$/GJ)
Henry Hub 3.39 3.45 3.69 3.71 3.65 3.13
Alberta NIT 0.79 0.87 2.06 2.95 2.51 2.07
Dawn, ON 3.36 3.46 3.78 3.63 3.62 3.26
Station 2, Westcoast Spectra, BC 0.43 0.58 1.65 2.18 1.88 1.67
Propane Prices
(US cents per gallon)
Edmonton 72.0 63.1 47.3 41.5 26.9 22.9
Sarnia 100.5 89.8 76.4 71.2 60.1 61.4
Mont Belvieu 93.5 89.6 72.7 57.6 50.6 48.5
Conway 88.9 85.6 68.3 54.7 45.6 45.0
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 22.40 24.29 24.23 27.33 18.96 19.70
Ontario (IESO On-Peak) 10.60 29.13 19.98 14.41 22.00 20.54
Ontario (IESO On-Peak + Global Adjustment) 130.33 117.77 121.14 126.41 117.30 118.05
Sources and Notes

Sources: Exchange Rate: Bank of Canada; Crude Oil Prices: Alberta Department of Energy, Daily Oil Bulletin, EIA. Natural Gas Prices: NGX; Propane Prices: Butane-Propane News; Electricity Prices: IESO, AESO.

Note: Visit the NEB Energy Conversion Tables for unit conversions.

Canada is a net exporter of crude oil, natural gas, propane and electricity. The NEB regulates the exports of crude oil, refined petroleum products, natural gas, NGLs and electricity. The NEB also regulates natural gas imports and collects statistics for electricity imports. The table below shows these commodity exports and imports, with recent month-to-month and year-over-year comparisons.

Trade Volumes Update
Trade Volumes Update
    2017 2016
    August July YTD avg. August July Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,225 3,275 3,331 3,135 2,794 3,101
Refined Petroleum
Products
Volumes (Mb/d)
Exports 325 337 360 327 433 370
 Natural Gas
Volumes (Bcf/d)
Exports 7.91 7.89 9.55 8.30 8.57 8.17
Imports 2.07 1.86 2.89 1.82 1.65 2.12
Net Exports 5.84 6.03 6.65 6.48 6.92 6.05
Propane
Volumes (Mb/d)
Exports 99 118 142 83 84 114
Butanes
Volumes (Mb/d)
Exports 26 30 27 19 20 19
Electricity
(GW.h/month)
Exports 7,492 7,035 6,363 7,157 7,480 6,092
Imports 500 582 906 792 670 775
Net Exports 6,992 6,452 5,457 6,365 6,810 5,317

 

Sources and notes

Sources: National Energy Board, Commodity Tracking System data

Note: Refined petroleum products includes non-confidential categories only, such as motor gasoline, middle distillate, and heavy fuel oil. Recent and historical trade statistics are available from the Commodity Tracking System (crude oil, natural gas, and electricity) and the volume and price queries (natural gas liquids).

Visit the NEB Energy Conversion Tables for unit conversions.

 

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