Daily LNG price update (rig smash)

Monday, 9 March 2015

The big news Friday night for the oil price was the weekly US rig count which resumed its steep tumble down 75 rigs on the week to 1192, charts from Zero Hedge:

Brent oil fell anyway on the rampant US dollar and the US determination to strike a nuclear deal with Iran, down 1% to $59.82.

Here is a cute Bloomie video illustrating the dynamics of price and production for shale oil:

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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.