Commodity Prices and Trade Updates

Monthly Data Tables – October 2020

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
		2020			2019
		November	October	2020 Avg.	November	October	2019 Avg.
Exchange Rate	Canadian $ / U.S. $	1.31	1.32	1.34	1.32	1.32	1.33
Crude Oil Prices (US$/bbl)	West Texas Intermediate	40.94	39.40	39.24	56.97	53.96	56.98
	Brent	42.69	40.19	41.80	63.21	59.71	64.35
	Western Canadian Select	29.46	29.89	27.85	37.13	38.05	42.45
Natural Gas Prices (CA$/GJ)	Henry Hub	3.16	2.92	2.52	3.25	2.82	3.21
	Alberta NIT	2.70	2.36	2.11	2.64	2.14	1.64
	Dawn	2.89	2.57	2.36	3.27	2.46	3.06
	Station 2	2.44	2.19	2.06	1.94	0.41	0.88
Propane Prices (US cents per gallon)	Edmonton	47.0	47.0	45.3	44.6	37.9	38.6
	Sarnia	70.2	64.9	63.3	88.9	64.7	72.0
	Mont Belvieu	54.5	51.9	46.4	54.0	46.1	53.5
	Conway	52.9	52.5	44.6	57.4	42.2	47.9
Electricity Prices (CA$/MW.h)	Alberta (AESO On-Peak)	41.03	75.35	55.68	64.36	45.53	64.60
	Ontario (IESO On-Peak)	14.43	13.97	16.29	26.48	10.91	21.61
	Ontario (IESO On-Peak + Global Adjustment)	131.48	142.03	129.88	126.01	147.71	130.84

Sources and Notes

Sources: Exchange Rate: Bank of Canada; Crude Oil Prices: NE2 Group, EIA; Natural Gas Prices: Platts; 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 CER regulates the exports of crude oil, refined petroleum products, natural gas, NGLs and electricity. The CER 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
		2020			2019
		October	September	Avg.	October	September	Avg.
Crude Oil Volumes (Mb/d)	Exports	3,578	3,371	4,559	3,671	3,678	3,755
Refined Petroleum Products Volumes (Mb/d)	Exports	Confidential	258	Confidential	Confidential	297	254
Natural Gas Volumes (Bcf/d)	Exports	6.44	5.88	8.36	6.73	7.04	7.41
	Imports	2.01	1.86	2.68	2.25	2.21	2.40
	Net Exports	4.43	4.02	5.68	4.48	4.83	5.00
Propane Volumes (Mb/d)	Exports	162	178	188	189	166	187
Butanes Volumes (Mb/d)	Exports	39	37	40	58	57	57
Electricity (GW.h)	Exports	5,156	4,938	5,665	3,806	5,978	5,031
	Imports	626	553	834	878	1,256	1,114
	Net Exports	4,530	4,385	4,832	2,928	4,721	3,917

Sources and notes

Sources:Canada Energy Regulator, 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 CER Energy Conversion Tables for unit conversions.