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MARKET
ANALYSIS
AS PREPARED BY COMMISSION STAFF
September 13, 2013
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 WTI Crude (US$/bbl) |
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Sept. 3 |
$108.54 |
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Sept. 4 |
$107.23 |
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Sept. 5 |
$108.37 |
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Sept. 6 |
$110.53 |
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Sept. 9 |
$109.52 |
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Sept. 10 |
$107.39 |
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Sept. 11 |
$107.56 |
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Sept. 12 |
$108.60 |
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Average
Brent Crude for September: $113.88. |
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Average |
Average |
Average |
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2013 |
2012 |
2011 |
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January |
$ 94.70 |
$100.51 |
$89.44 |
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February |
$ 95.50 |
$102.26 |
$88.83 |
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March |
$ 92.73 |
$106.36 |
$102.74 |
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April |
$ 89.59 |
$103.18 |
$109.67 |
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May |
$ 94.93 |
$
95.47 |
$101.29 |
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June |
$ 95.76 |
$
82.28 |
$96.40 |
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July |
$104.68 |
$
87.93 |
$97.43 |
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August |
$106.49 |
$
94.05 |
$86.23 |
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September |
$108.47 |
$
94.74 |
$86.13 |
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October |
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$
89.72 |
$86.10 |
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November |
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$
85.87 |
$96.86 |
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December |
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$
88.06 |
$98.51 |
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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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Sept 11/13 |
$107.56 |
140.3 |
106.0 |
144.3 |
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Sept 11/12 |
$ 97.17 |
129.2 |
105.3 |
130.5 |
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YOY Diff. |
+10.39 |
+11.1 |
+0.7 |
+13.8 |
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% Change |
+10.7% |
+8.6% |
+7% |
+10.6% |
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Commentary: |
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While
crude prices continue to be influenced by the geo-political
issues surrounding Syria, in particular, and the Middle East
in general, refined product pricing has retrenched as of
late. The return of full production of the Irving
refinery, improved imports and the reduced demand associated
with post Labour Day seasonality has taken pressure off
gasoline prices in particular.
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Economic Data: |
Platts Inventory Update: |
- The US Energy Department
("DOE") weekly petroleum inventory assessment, issued
September 11, 2013, reported a decrease in US crude
stocks of 219,000 barrels.
- US gasoline inventories
increased by 1,660,000 barrels over the previous
reporting period. Implied gasoline demand decreased in
this reporting period by 169,000 b/d.
- US
distillate inventories increased by 2,590,000 barrels.
- Refinery
utilization increased slightly to 92.5% of production
capacity.
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Weekly
(bbl) |
Year over Year
% Change |
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Crude |
-219,000 |
+0.25% |
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Gasoline |
+1,660,000 |
+10.1% |
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Distillates |
+2,590,000 |
+2.8% |
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Source: DOE September 11, 2013 |
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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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