Commodity Prices and Trade Updates

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Prices and Trade

Monthly Data Tables – July 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
August July 2020 Avg. August July 2019 Avg.
Exchange Rate Canadian $ / U.S. $ 1.32 1.35 1.36 1.33 1.31 1.33
Crude Oil Prices
(US$/bbl)
West Texas Intermediate 42.34 40.71 37.98 54.81 57.35 56.98
Brent 44.74 43.24 40.97 59.04 63.92 64.35
Western Canadian Select 30.01 31.99 26.42 42.49 41.46 42.45
Natural Gas Prices
(CA$/GJ)
Henry Hub 2.81 2.17 2.33 2.74 2.87 3.21
Alberta NIT 2.36 1.88 1.96 0.84 1.25 1.64
Dawn 2.52 2.15 2.22 2.57 2.68 3.06
Station 2 2.34 1.88 1.93 0.74 0.68 0.88
Propane Prices
(US cents per gallon)
Edmonton 47.0 46.2 44.5 32.0 33.3 38.6
Sarnia 60.5 63.0 60.7 53.7 59.1 72.0
Mont Belvieu 51.7 49.1 42.2 41.9 44.7 53.5
Conway 47.3 47.6 40.3 34.0 35.7 47.9
Electricity Prices
(CA$/MW.h)
Alberta (AESO On-Peak) 49.10 68.78 57.08 52.53 46.92 64.60
Ontario (IESO On-Peak) 22.40 25.53 16.74 20.76 25.53 21.61
Ontario (IESO On-Peak + Global Adjustment) 125.88 124.55 127.06 146.83 121.98 130.84
Sources and Notes

Sources: Exchange Rate: Bank of Canada; Crude Oil Prices: Net Energy 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
    June May Avg. June May Avg.
Crude Oil
Volumes (Mb/d)
Exports 3,385 3,336 3,726 3,903 3,669 3,755
Refined Petroleum
Products
Volumes (Mb/d)
Exports 261 286 Confidential 374 268 254
 Natural Gas
Volumes (Bcf/d)
Exports 6.85 6.04 6.96 7.03 6.71 7.41
Imports 2.03 1.94 2.33 2.14 2.12 2.40
Net Exports 4.82 4.10 4.64 4.89 4.59 5.00
Propane
Volumes (Mb/d)
Exports 106 117 157 158 145 187
Butanes
Volumes (Mb/d)
Exports 37 30 29 60 55 57
Electricity
(GW.h)
Exports 7,126 6,203 5,613 4,497 3,822 5,031
Imports 722 935 960 1,246 1,452 1,114
Net Exports 6,404 5,268 4,652 3,251 2,370 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.

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