Daily LNG price update (brimming)

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The oil price retrenched again last night following its recent pattern of volatility. As I write Brent is down 1.5% to $57.20. The proximate cause is no different to yesterday, fears of storage capacity running short in the US:

20150312_WTI2

WSJ has more:

Data service Genscape Inc., which tracks storage levels in Cushing, Okla., reported to its clients Thursday that inventories in Cushing rose by 2.2 million barrels between March 6 and March 10, according to two market participants.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.