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MARKET
ANALYSIS
AS PREPARED BY COMMISSION STAFF
May 29, 2015
The following analysis has been used by the
Commission as part of its price adjustment methodology and is
provided here to assist the public in understanding some of the
background factors influencing current market prices.
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Recent Crude (US$/bbl) |
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WTI |
Brent |
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May 15 |
$ 59.69 |
$ 66.81 |
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May 18 |
$ 59.43 |
$ 66.27 |
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May 19 |
$ 57.26 |
$ 64.02 |
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May 20 |
$ 58.98 |
$ 65.03 |
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May 21 |
$ 60.72 |
$
66.54 |
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May 22 |
$ 59.72 |
$ 65.37 |
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May 26 |
$ 58.03 |
$ 63.72 |
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May 27 |
$ 57.51 |
$ 62.06 |
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May 28 |
$ 57.68 |
$ 62.58 |
Average
Brent Crude for May:
$ 65.62. |
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West Texas Intermediate |
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Average |
Average |
Average |
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2015 |
2014 |
2013 |
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January |
$ 47.56 |
$ 94.73 |
$ 94.70 |
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February |
$ 50.78 |
$100.57 |
$ 95.50 |
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March |
$ 47.87 |
$100.46 |
$ 92.73 |
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April |
$ 54.63 |
$102.15 |
$ 89.59 |
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May |
$ 59.32 |
$101.79 |
$ 94.93 |
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June |
|
$105.14 |
$ 95.76 |
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July |
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$102.39 |
$104.68 |
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August |
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$ 96.08 |
$106.49 |
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September |
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$ 93.03 |
$106.24 |
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October |
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$ 84.52 |
$100.74 |
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November |
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$ 77.55 |
$ 94.00 |
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December |
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$ 59.82 |
$ 97.87 |
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US $
Per Barrel |
CDN
Cents
Per Litre |
CDN Cents
Per Litre |
CDN Cents
Per Litre |
| |
CRUDE |
RUL |
F/O |
DIESEL |
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May 27/15 |
$ 57.51 |
113.9 |
85.4 |
119.6 |
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May 27/14 |
$104.11 |
136.9 |
106.8 |
142.7 |
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YOY Diff. |
-46.60 |
-23.0 |
-21.4 |
-23.1 |
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% Change |
-44.8% |
-16.8% |
-20.0% |
-16.2% |
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Commentary: |
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WTI crude pricing
remained relatively stable over the past two weeks reacting
primarily to fluctuations in strength of the US dollar and a
variety of economic performance indicators relative to US,
European and Asian markets.
Refined product pricing has been sensitive to seasonal
demand with gasoline experiencing upward pressure over the
past two weeks while distillate wholesale pricing has
generally remained relatively soft with improved margins
noted.
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Economic Data: |
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The US Energy
Department ("DOE") weekly petroleum inventory assessment,
issued May 28, 2015, reported a decrease in US crude stocks
of 2,800,000 barrels.
US gasoline inventories
decreased by 3,300,000 barrels over the previous reporting
period.
US
distillate inventories increased by 1,110,000 barrels.
Implied gasoline demand increased in this reporting period
by 473,000 b/d.
US refinery utilization rates increased by 1.2% to
93.6% of capacity.
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Weekly
(bbl) |
Year over Year
% Change |
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Crude |
-2.800,000 |
+22.0% |
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Gasoline |
-3,300,000 |
+4.3% |
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Distillates |
+1,110,000 |
+11.0% |
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Source: DOE May 28, 2015 |
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Legend: |
| DOE |
Department of Energy |
| RUL |
Regular Unleaded Gasoline |
| F/O |
Furnace Oil |
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WTI |
West Texas Intermediate |
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