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Prices are for 1st quarter 2020 oil products, and annual 2019 for other products.
Crude Oil increased 10.53 USD/BBL or 14.70% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on June of 2024.
Oil (WTI) 81.48. -0.42. USD per Barrel. 6/28/24 04:51 PM. Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.
- Historical Prices for Oil (Brent) Loading.. Date. Open. Close. Daily High. Daily Low. Price change over selected period: 0% 0.
- Unit conversion for Oil (Brent) Price Today. Conversion. Oil (Brent) Price. Price. 1 Barrel ≈ 158,98 Liters. Oil (Brent) Price Per 1 Liter. 0.52 USD. 1 Barrel ≈ 0,136 Tonnes of Crude Oil.
- Energy. Name. Price % Unit. Date. Natural Gas (Henry Hub) 1.81. 0.67. USD per MMBtu. 3/8/24 05:00 PM. Ethanol. 2.16. 0.05. USD per Gallon. 3/8/24 07:16 AM. Heating Oil.
- Oil Price (Brent Crude and WTI) The price of oil is the most important value on international commodity markets since crude oil is the most important commodity.
- Figure 1. Countries Canada Imports Crude Oil from
- Figure 2. Origin and Cost of Crude Oil Imported to Eastern Provinces
- Figure 3. Weekly Refinery Crude Utilization by Region
Imports by region
In 2020, all of the eastern Canadian importing provinces imported less oil compared to 2019. The primary reason for the drop in imports during 2020 was related to COVID-19, as refineries processed less crude oil due to lower demand for refined petroleum products (e.g. gasoline and jet fuel) during the COVID-19 pandemic. Additionally, Newfoundland and Labrador’s crude oil imports dropped by more than 70% because of the idling of the Come by Chance Refineryin March 2020. The Come by Chance Refi...
Cost of imported oil
Generally, imported oil is more costly than Canadian crude oil transported by pipeline. The total cost of all imported crude oil was $11.5 billion in 2020, a drop of 40% from 2019 when the cost was $18.9 billionFootnote 2. This is due to both the 20% decline in imported volumes, and the decline in global crude prices due to OPEC+ actions and COVID-19market impacts. Newfoundland and Labrador had the highest import cost per barrel of crude oil in 2020 and throughout recent years. Newfoundland a...
Recovery of refinery utilizations
When the COVID-19 pandemic hit, refineries in all regions of Canada were materially impacted. Western Canadian refineries were impacted less than refineries in Ontario, Quebec, and Atlantic Canada. These western refineries, and to a lesser extent those in Ontario, made substantial recoveries by the end of 2020. Refineries in the main importing regions of Quebec and Atlantic Canada have been slower to recover from the pandemic impacts compared to refineries in the rest of Canada. As a result,...
Cost of imported oil
In 2020, Canada reduced its reliance on imports, especially non-U.S. imports. Overall, Canada imported less crude oil in 2020 than 2019 largely due to the impacts of the COVID-19 pandemic in reducing refinery demand. The cost of the total oil imported also declined substantially, as not only were import volumes lower, but global prices dropped early in the pandemic. Newfoundland and Labrador has been impacted most with the idling of the Come by Chance refinery, leaving the province without a...
Jul 10, 2020 · Crude prices increased in June for the second successive month. North Sea Dated prices oscillated between $38-$43/bbl, supported by tighter fundamentals but capped by rising numbers of Covid-19 cases and economic uncertainty. By early July, prices were firmly above $43/bbl.
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3 days ago · Notes: Weekly, monthly, and annual prices are calculated by EIA from daily data by taking an unweighted average of the daily closing spot prices for a given product over the specified time period. See Definitions, Sources, and Notes link above for more information on this table.
