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MARKET
ANALYSIS
AS PREPARED BY COMMISSION STAFF
August 29, 2014
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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Aug 18 |
$ 96.41 |
$101.60 |
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Aug 19 |
$ 94.48 |
$101.56 |
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Aug 20 |
$ 96.07 |
$102.28 |
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Aug 21 |
$ 93.96 |
$102.63 |
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Aug 22 |
$ 93.65 |
$102.29 |
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Aug 25 |
$ 93.35 |
$102.65 |
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Aug 26 |
$ 93.86 |
$102.50 |
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Aug 27 |
$ 93.88 |
$102.72 |
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Aug 28 |
$ 94.55 |
$102.46 |
Average
Brent Crude for August:
$103.41. |
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West Texas Intermediate |
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Average |
Average |
Average |
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2014 |
2013 |
2012 |
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January |
$ 94.73 |
$ 94.70 |
$100.51 |
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February |
$100.57 |
$ 95.50 |
$102.26 |
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March |
$100.46 |
$ 92.73 |
$106.36 |
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April |
$102.15 |
$ 89.59 |
$103.18 |
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May |
$101.79 |
$ 94.93 |
$
95.47 |
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June |
$105.14 |
$ 95.76 |
$
82.28 |
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July |
$102.39 |
$104.68 |
$
87.93 |
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August |
$ 96.08 |
$106.49 |
$
94.05 |
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September |
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$106.24 |
$
94.74 |
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October |
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$100.74 |
$
89.72 |
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November |
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$ 94.00 |
$
85.87 |
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December |
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$ 97.87 |
$
88.06 |
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US $
Per Barrel |
CDN
Cents
Per Litre |
CDN Cents
Per Litre |
CDN Cents
Per Litre |
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CRUDE |
RUL |
F/O |
DIESEL |
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Aug 26/14 |
$ 93.86 |
132.9 |
103.3 |
139.3 |
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Aug 26/13 |
$105.92 |
136.3 |
102.0 |
138.6 |
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YOY Diff. |
-12.06 |
-3.4 |
+1.3 |
+0.7 |
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% Change |
-11.4% |
-2.5% |
+1.3% |
+0.5% |
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Economic Data: |
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The US Energy
Department ("DOE") weekly petroleum inventory assessment,
issued August 27, 2014, reported a decrease in US crude stocks
of 2,070,000 barrels.
US gasoline inventories
decreased by 960,000 barrels over the previous reporting
period. Implied gasoline demand increased in this reporting
period by 325,000 b/d.
US
distillate inventories increased by 1,250,000 barrels.
US refinery utilization increased by 0.1% to
93.5% of capacity.
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Weekly
(bbl) |
Year over Year
% Change |
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Crude |
-2,070,000 |
-0.4% |
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Gasoline |
-960,000 |
-2.5% |
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Distillates |
+1,250,000 |
+4.8% |
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Source: DOE August 27, 2014 |
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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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