Commodity Prices and Trade Updates

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Prices and Trade

Monthly Data Tables – January 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 2019/2018
January December 2019 Avg. January December 2018 Avg.
Exchange Rate Canadian $ / U.S. $ 1.31 1.32 1.33 1.33 1.34 1.30
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 57.52 59.82 56.98 51.38 49.52 65.08
Brent 63.65 67.11 64.35 59.41 57.36 71.24
Western Canadian Select 35.02 38.36 42.45 34.30 5.97 38.46
Natural Gas Prices
(CA$/GJ)
Henry Hub 2.49 2.73 3.21 3.95 3.62 3.71
Alberta NIT 2.20 2.25 1.64 1.79 1.47 1.44
Dawn, ON 2.43 2.78 3.06 4.00 3.46 3.71
Station 2, Westcoast Spectra, BC 2.16 2.01 0.88 1.34 1.31 1.22
Propane Prices
(US cents per gallon)
Edmonton 44.6 48.9 38.6 39.8 40.3 49.0
Sarnia 66.1 108.8 72.0 79.5 79.7 91.4
Mont Belvieu 39.8 49.8 53.5 65.8 67.0 86.7
Conway 38.2 47.4 47.9 54.9 62.4 71.2
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 154.53 48.39 64.60 40.41 46.10 59.06
Ontario (IESO On-Peak) 19.27 25.55 21.61 33.00 34.85 28.41
Ontario (IESO On-Peak + Global Adjustment) 113.20 118.76 130.84 113.92 105.52 119.93
Sources and Notes

Sources: Exchange Rate: Bank of Canada; Crude Oil Prices: Kent Group, 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
    November October Avg. November October Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,583 3,671 3,734 3,752 3,361 3,557
Refined Petroleum
Products
Volumes (Mb/d)
Exports Confidential Confidential 255 187 230 267
 Natural Gas
Volumes (Bcf/d)
Exports 7.44 6.73 7.37 6.68 6.79 7.76
Imports 2.84 2.25 2.32 3.13 1.96 2.20
Net Exports 4.60 4.48 5.05 3.55 4.84 5.56
Propane
Volumes (Mb/d)
Exports 180 189 185 171 146 153
Butanes
Volumes (Mb/d)
Exports 45 58 58 73 57 48
Electricity
(GW.h/month)
Exports 5,279 3,806 4,994 4,575 4,199 5,121
Imports 736 878 1,155 1,325 902 1,100
Net Exports 4,544 2,928 3,838 3,250 3,297 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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