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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery lost one cent to $64.98 on the New York Merc, while Brent for November added 11 cents to $69.42 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.80 to WTI, unchanged. Natural gas for October added four cents to $2.90. The TSX energy index added a fraction of a point to close at 295.00.

Well, it turns out that peak oil is not quite in the rearview mirror after all. Today, in its closely watched annual energy outlook, European oil giant BP changed its mind about global oil demand peaking in 2025 (which was its eye-catching prediction last year) and granted a five-year stay of execution to 2030. It also nudged up its estimate of peak demand to 103.4 million barrels a day from 102 million. After reaching that peak, says BP, oil demand will begin to slump to 83 million barrels by 2050. (That is, at least, slightly more bullish than last year's 2050 forecast of just 75 million barrels a day.)

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