National Energy Board Government of Canada : Prices, Trade and Feature Articles - December 2016 Commodity Prices and October 2016 Trade Volumes

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
2016			2015
Dec.	Nov.	YTD avg.	Dec.	Nov.	Avg.
Exchange Rate	Canadian $ / U.S. $	1.33	1.34	1.33	1.37	1.33	1.28
Crude Oil Prices (US$/bbl)	West Texas Intermediate	52.03	45.71	43.27	37.19	42.44	48.69
	Brent	53.42	44.73	43.64	38.01	44.27	52.35
	Western Canadian Select	36.68	31.89	29.26	22.51	27.78	35.28
Natural Gas Prices (CA$/GJ)	Henry Hub	4.53	3.20	3.13	2.49	2.63	3.14
	Alberta NIT	3.26	2.62	2.07	2.18	2.41	2.56
	Dawn, ON	5.23	3.54	3.26	2.64	2.91	3.55
	Station 2, Westcoast Spectra, BC	2.86	1.87	1.67	1.34	1.03	1.70
	Algonquin City-Gates	8.36	3.25	3.77	2.97	4.03	5.73
Propane Prices (US cents per gallon)	Edmonton	52.0	38.6	22.5	0.1	0.2	5.9
	Sarnia	79.9	69.0	61.1	50.1	56.8	56.7
	Mont Belvieu	63.0	52.8	48.2	37.8	42.5	45.5
	Conway	62.2	50.4	44.7	32.8	39.1	41.2
Electricity Prices (CA$/MW.h)	Alberta (AESO On-Peak)	26.60	17.37	19.71	22.83	23.77	40.82
	Ontario (IESO On-Peak)	22.99	21.13	20.54	14.42	13.96	27.78
	Ontario (IESO On-Peak + Global Adjustment)	101.69	132.13	117.35	109.12	127.16	106.96

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
2016			2015
Oct.	Sept.	YTD avg.	Oct.	Sept.	Avg.
Crude Oil Volumes (Mb/d)	Exports	3,057	3,047	3,037	2,876	3,258	3,046
Refined Petroleum Products Volumes (Mb/d)	Exports	180	360	357	234	290	288
Natural Gas Volumes (Bcf/d)	Exports	7.40	8.01	8.09	7.19	6.91	7.35
	Imports	1.41	2.10	1.99	1.83	1.93	1.86
	Net Exports	5.99	5.91	6.09	5.37	4.98	5.49
Propane Volumes (Mb/d)	Exports	129	93	112	113	97	112
Butanes Volumes (Mb/d)	Exports	18	17	18	30	40	24
Electricity (GW.h/month)	Exports	5,404	6,063	6,037	4,645	6,002	5,688
	Imports	817	838	792	671	676	727
	Net Exports	4,588	5,225	5,245	3,974	5,326	4,961

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.