Commodity Prices and Trade Updates

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Prices, Trade and Feature Articles

Monthly Data Tables – January 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
Jan. 2017 Dec. 2016 YTD avg.
2017
Jan. 2016 Dec. 2015 Avg.
2016
Exchange Rate Canadian $ / U.S. $ 1.32 1.33 1.32 1.42 1.37 1.33
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 52.49 51.97 52.49 31.68 37.19 43.26
Brent 54.56 53.32 54.56 30.70 38.01 43.63
Western Canadian Select 39.60 37.82 39.60 17.88 22.51 29.35
Natural Gas Prices
(CA$/GJ)
Henry Hub 4.13 4.53 4.13 3.07 2.49 3.13
Alberta NIT 2.77 3.26 2.77 2.28 2.18 2.07
Dawn, ON 4.44 5.23 4.44 3.24 2.64 3.26
Station 2, Westcoast Spectra, BC 2.51 2.86 2.51 1.72 1.34 1.67
Algonquin City-Gates 6.34 8.36 6.34 5.96 2.97 5.73
Propane Prices
(US cents per gallon)
Edmonton 69.1 52.0 69.1 0.1 0.1 22.5
Sarnia 89.7 79.9 89.7 48.2 50.1 61.1
Mont Belvieu 74.0 63.0 74.0 33.0 37.8 48.2
Conway 72.2 62.2 72.2 30.3 32.8 44.7
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 26.34 26.51 26.34 24.26 22.83 19.70
Ontario (IESO On-Peak) 28.11 22.99 28.11 18.71 14.42 20.54
Ontario (IESO On-Peak + Global Adjustment) 114.91 110.09 114.91 110.51 109.12 118.05
Sources and Notes

Sources: Exchange Rate: Bank of Canada; Crude Oil Prices: Alberta Department of Energy, Daily Oil Bulletin, EIA. Natural Gas Prices: NGX, Platts Gas Daily; 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
    2016 2015
    Nov. Oct. YTD avg. Nov. Oct. Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,438 3,057 3,081 3,033 2,876 3,046
Refined Petroleum
Products
Volumes (Mb/d)
Exports 357 180 395 431 234 288
 Natural Gas
Volumes (Bcf/d)
Exports 8.11 7.40 8.09 7.22 7.19 7.35
Imports 2.40 1.41 2.03 1.95 1.83 1.86
Net Exports 5.71 5.99 6.06 5.27 5.37 5.49
Propane
Volumes (Mb/d)
Exports 128 129 123 140 113 112
Butanes
Volumes (Mb/d)
Exports 23 18 19 24 30 24
Electricity
(GW.h/month)
Exports 6,214 5,404 6,053 5,227 4,645 5,688
Imports 682 817 782 628 671 727
Net Exports 5,532 4,588 5,271 4,598 3,974 4,961
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.

Visit the NEB Energy Conversion Tables for unit conversions.

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