Peak oil notes – April 18

A mid-week update. So far this week oil prices suffered their largest three-day drop of the year and remained below the $90 threshold for the first time since last December. Oil futures in New York settled at $86.30 per barrel on Wednesday, down six percent from $91 at the week’s start. The price of London’s Brent crude this week also slipped below the $100 threshold for the first time this year, closing Wednesday at $97.80. The WTI-Brent price gap remains around $11, also around the year’s lowest level.