Commodity Prices for August 2020 and Trade Volumes for June 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
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: 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
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: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.