Daily LNG price update (contract crush)

Tuesday, 28 April 2015

The Brent oil price fell back last night to $64.77 despite further bombing in Yemen and a weak US dollar. News was scarce.

My own view remains that we are close to a new top. Markets are now very long higher prices, from the WSJ:

This positioning is consistent with falls ahead not more rises. We have one more bullish forecastable event ahead – the peak in US shale production – but that should mostly be priced already. The greater risk is a renewed correction.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.