Commodity Prices and Trade Updates

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Prices and Trade

Monthly Data Tables – April 2019

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
  2019 2018
April March YTD avg. April March Avg.
Exchange Rate Canadian $ / U.S. $ 1.34 1.34 1.33 1.27 1.29 1.30
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 63.86 58.15 57.09 66.25 62.73 65.08
Brent 71.23 66.14 65.19 72.11 66.02 71.24
Western Canadian Select 53.98 48.21 44.90 40.47 35.53 38.46
Natural Gas Prices
(CA$/GJ)
Henry Hub 3.29 3.63 3.56 3.32 3.26 3.71
Alberta NIT 0.92 2.48 2.06 1.42 1.94 1.44
Dawn, ON 3.13 3.70 3.56 3.50 3.14 3.71
Station 2, Westcoast Spectra, BC 0.67 0.97 1.10 1.23 1.85 1.22
Propane Prices
(US cents per gallon)
Edmonton 39.5 41.1 41.1 45.4 48.2 49.0
Sarnia 70.1 79.0 78.4 84.9 84.3 91.4
Mont Belvieu 63.7 65.8 65.4 83.2 78.1 86.7
Conway 56.6 59.6 57.6 69.9 64.0 71.2
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 44.12 74.60 71.97 46.00 33.13 59.06
Ontario (IESO On-Peak) 18.09 28.74 28.10 32.42 21.48 28.41
Ontario (IESO On-Peak + Global Adjustment) 141.42 109.15 121.29 132.01 116.29 119.93
Sources and Notes

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

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

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
    2019 2018
    February January YTD avg. February January Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,511 3,375 3,440 3,426 3,343 3,557
Refined Petroleum
Products
Volumes (Mb/d)
Exports 318 253 284 283 269 267
 Natural Gas
Volumes (Bcf/d)
Exports 8.04 9.08 8.58 8.52 9.19 7.76
Imports 2.98 2.70 2.83 2.63 2.78 2.20
Net Exports 5.06 6.38 5.75 5.89 6.41 5.56
Propane
Volumes (Mb/d)
Exports 213 233 224 165 177 153
Butanes
Volumes (Mb/d)
Exports 64 67 65 51 45 48
Electricity
(GW.h/month)
Exports 4,534 4,972 4,753 4,625 5,478 5,121
Imports 925 1,183 1,054 1,428 1,385 1,100
Net Exports 3,609 3,789 3,699 3,197 4,093 4,022
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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