National Energy Board Government of Canada : Prices, Trade and Feature Articles – Update

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
2017			2016
December	November	YTD avg.	December	November	Avg.
Exchange Rate	Canadian $ / U.S. $	1.28	1.28	1.29	1.33	1.34	1.33
Crude Oil Prices (US$/bbl)	West Texas Intermediate	54.31	56.64	50.59	51.97	45.66	43.14
	Brent	61.37	62.71	54.00	53.29	44.73	43.55
	Western Canadian Select	41.28	45.52	38.88	37.18	31.89	29.48
Natural Gas Prices (CA$/GJ)	Henry Hub	3.30	3.59	3.65	4.53	3.20	3.13
	Alberta NIT	1.95	2.17	2.06	3.26	2.62	2.07
	Dawn, ON	3.46	3.74	3.75	5.23	3.54	3.26
	Station 2, Westcoast Spectra, BC	0.50	0.78	1.48	2.86	1.87	1.67
Propane Prices (US cents per gallon)	Edmonton	81.2	81.0	52.9	55.0	37.6	22.9
	Sarnia	109.7	108.4	81.8	81.6	69.6	61.4
	Mont Belvieu	96.8	98.4	76.8	64.2	53.3	48.5
	Conway	92.3	95.0	72.5	63.4	51.4	45.0
Electricity Prices (CA$/MW.h)	Alberta (AESO On-Peak)	20.4 est	20.40	23.60	26.51	17.37	19.70
	Ontario (IESO On-Peak)	19.07 est	19.07	19.83	22.99	21.13	20.54
	Ontario (IESO On-Peak + Global Adjustment)	115.76 est	115.76	120.74	110.09	132.13	118.05

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
2017			2016
October	September	YTD avg.	October	September	Avg.
Crude Oil Volumes (Mb/d)	Exports	3,277	3,315	3,324	3,057	3,126	3,101
Refined Petroleum Products Volumes (Mb/d)	Exports	260	241	302	180	360	370
Natural Gas Volumes (Bcf/d)	Exports	7.55	7.81	8.20	7.40	8.01	8.17
	Imports	1.97	2.27	2.44	1.41	2.10	2.12
	Net Exports	5.58	5.53	5.75	5.99	5.91	6.05
Propane Volumes (Mb/d)	Exports	144	139	128	128	93	114
Butanes Volumes (Mb/d)	Exports	50	32	27	18	17	19
Electricity (GW.h/month)	Exports	4,690	6,241	6,183	5,404	6,063	6,092
	Imports	664	555	847	817	838	775
	Net Exports	4,025	5,687	5,336	4,588	5,225	5,317

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.