Daily LNG price update (futures)

Monday, 4 May 2015

Brent oil was roughly stable at $66.50 Friday night amid limited news flow. The major point of focus was another fall in the weekly US rig count down 27 to 905:

We are surely close to a rig count bottom and production top. John Kemp offered the observation of the evening:

Market participants expect the price of Brent to average around $75 per barrel through the rest of the decade, not much above the current level.

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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.