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MARKET
ANALYSIS
AS PREPARED BY COMMISSION STAFF
July 14, 2016
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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Jul 1 |
$ 48.90 |
$ 50.35 |
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Jul 5 |
$ 46.60 |
$ 47.96 |
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Jul 6 |
$ 47.43 |
$ 48.80 |
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Jul 7 |
$ 45.14 |
$ 46.40 |
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Jul 8 |
$ 45.41 |
$
46.76 |
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Jul 11 |
$ 44.76 |
$ 46.25 |
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Jul 12 |
$ 46.80 |
$ 48.47 |
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Jul 13 |
$ 44.75 |
$ 46.26 |
Average
Brent Crude for July:
$ 47.66. |
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West Texas Intermediate |
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Average |
Average |
Average |
Average |
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2016 |
2015 |
2014 |
2013 |
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January |
$ 31.78 |
$ 47.56 |
$ 94.73 |
$ 94.70 |
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February |
$ 30.62 |
$ 50.78 |
$100.57 |
$ 95.50 |
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March |
$ 37.96 |
$ 47.87 |
$100.46 |
$ 92.73 |
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April |
$ 41.12 |
$ 54.63 |
$102.15 |
$ 89.59 |
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May |
$ 46.80 |
$ 59.37 |
$101.79 |
$ 94.93 |
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June |
$ 48.85 |
$ 59.76 |
$105.14 |
$ 95.76 |
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July |
$ 46.22 |
$ 50.93 |
$102.39 |
$104.68 |
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August |
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$ 42.89 |
$ 96.08 |
$106.49 |
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September |
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$ 45.48 |
$ 93.03 |
$106.24 |
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October |
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$ 46.29 |
$ 84.52 |
$100.74 |
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November |
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$ 42.94 |
$ 77.55 |
$ 94.00 |
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December |
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$ 37.33 |
$ 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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Jul 13/16 |
$ 44.75 |
98.6 |
71.20 |
104.0 |
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Jul 13/15 |
$ 52.20 |
119.0 |
81.2 |
115.0 |
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YOY Diff. |
- 7.45 |
-20.4 |
-10.0 |
-11.0 |
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% Change |
-14.3% |
-17.1% |
-12.3% |
-9.6% |
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Commentary: |
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Crude pricing has
fallen off since July 1st, primarily the result of the
return of supply from Alberta and Nigera; concerns over
global economic growth and DOE reported significant builds
in gasoline and distillate inventories.
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Economic Data: |
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1. Platts Inventory
Update:
The US
Energy Department ("DOE") weekly petroleum inventory
assessment, issued July 13, 2016, reported a decrease in US
crude stocks of 2,546,000 barrels.
US gasoline
inventories increased by 1,213,000 barrels over the previous
reporting period.
US distillate inventories
increased by 4,058,000 barrels. Refinery
utilization fell 0.2% to 92.3% of capacity.
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Weekly
(bbl) |
Year over Year
% Change |
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Crude |
-2,546,000 |
+13.1% |
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Gasoline |
+1,213,000 |
+10.1% |
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Distillates |
+4,058,000 |
+8.3% |
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Source: DOE July 13, 2016 |
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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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