Commodity Prices and Trade Updates

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Prices, Trade and Feature Articles

Monthly Data Tables – June 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
June May YTD avg. June May Avg.
Exchange Rate Canadian $ / U.S. $ 1.33 1.36 1.33 1.29 1.29 1.33
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 45.86 48.38 50.12 48.76 46.71 43.14
Brent 47.08 51.36 52.06 48.25 46.74 43.55
Western Canadian Select 37.54 38.73 38.54 36.47 32.52 29.48
Natural Gas Prices
(CA$/GJ)
Henry Hub 3.70 4.04 3.83 3.12 2.34 3.13
Alberta NIT 2.39 2.85 2.60 1.78 1.17 2.07
Dawn, ON 3.71 4.11 4.01 3.05 2.48 3.26
Station 2, Westcoast Spectra, BC 1.97 2.35 2.27 1.67 0.90 1.67
Propane Prices
(US cents per gallon)
Edmonton 31.9 34.6 43.4 24.2 19.6 22.5
Sarnia 61.4 62.9 72.7 61.7 60.0 61.1
Mont Belvieu 59.3 64.2 67.4 50.0 53.1 48.2
Conway 56.0 61.1 62.7 47.2 49.2 44.7
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 19.30 24.50 22.80 16.79 17.05 19.70
Ontario (IESO On-Peak) 9.14 6.83 19.17 27.47 16.66 20.54
Ontario (IESO On-Peak + Global Adjustment) 115.66 134.59 116.18 122.97 124.16 118.05
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
    April March YTD avg. April March Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,390 3,371 3,387 2,960 3,190 3,101
Refined Petroleum
Products
Volumes (Mb/d)
Exports 271 263 299 388 421 370
 Natural Gas
Volumes (Bcf/d)
Exports 7.97 8.97 8.79 8.04 7.62 8.17
Imports 2.64 3.08 3.05 2.14 2.59 2.12
Net Exports 5.32 5.89 5.74 5.91 5.03 6.05
Propane
Volumes (Mb/d)
Exports 101 139 146 102 119 114
Butanes
Volumes (Mb/d)
Exports 23 15 20 19 16 19
Electricity
(GW.h/month)
Exports 5,975 6,055 6,014 4,608 5,738 6,092
Imports 1,288 1,230 971 916 1,019 775
Net Exports 4,687 4,826 5,043 3,692 4,719 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.

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