Commodity Prices and Trade Updates

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Prices and Trade

Monthly Data Tables – October 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
October September 2019 Avg. October September 2018 Avg.
Exchange Rate Canadian $ / U.S. $ 1.32 1.32 1.33 1.30 1.30 1.30
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 53.96 57.03 56.70 71.44 70.23 65.08
Brent 59.71 62.92 64.19 81.78 78.89 71.24
Western Canadian Select 38.05 44.35 43.39 41.15 40.37 38.46
Natural Gas Prices
(CA$/GJ)
Henry Hub 2.82 3.16 3.21 4.00 3.65 3.71
Alberta NIT 2.14 0.68 1.54 1.34 1.34 1.44
Dawn, ON 2.46 2.70 3.04 4.07 3.62 3.71
Station 2, Westcoast Spectra, BC 0.41 0.55 0.78 1.02 1.32 1.22
Propane Prices
(US cents per gallon)
Edmonton 37.9 33.9 36.9 44.6 45.6 49.0
Sarnia 64.7 56.3 66.7 96.3 97.6 91.4
Mont Belvieu 46.1 44.8 53.8 95.9 104.8 86.7
Conway 42.2 39.0 47.0 80.7 78.0 71.2
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 45.53 65.37 66.24 74.52 37.75 59.06
Ontario (IESO On-Peak) 10.91 18.88 20.73 16.35 32.03 28.41
Ontario (IESO On-Peak + Global Adjustment) 147.71 141.51 132.54 136.94 117.87 119.93
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 CER 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
    2019 2018
    August July Avg. August June Avg.
Crude Oil
Volumes (Mb/d)
Exports 4,017 4,014 3,768 3,776 3,682 3,557
Refined Petroleum
Products
Volumes (Mb/d)
Exports 391 307 314 290 302 267
 Natural Gas
Volumes (Bcf/d)
Exports 7.23 7.55 7.48 7.88 8.08 7.76
Imports 2.39 2.10 2.28 2.16 1.82 2.20
Net Exports 4.84 5.45 5.20 5.73 6.26 5.56
Propane
Volumes (Mb/d)
Exports 183 183 187 117 117 153
Butanes
Volumes (Mb/d)
Exports 60 52 60 46 41 48
Electricity
(GW.h/month)
Exports 6,501 6,226 4,984 5,903 6,542 5,121
Imports 1,145 1,353 1,230 723 676 1,100
Net Exports 5,356 4,873 3,754 5,181 5,866 4,022
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.

 

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