Daily LNG price update (LNG as iron ore)

Friday, 8 May 2015

Brent oil was bashed lower last night to $65.62 as markets apparently fretted about Iran:

Iran is “talking big,” said Phil Flynn, senior market analyst at the Price Futures Group.

Iran produces about 2.7 million barrels a day, but Oil Minister Bijan Zangeneh said Thursday that if sanctions are lifted this year, the country could be pumping 5.7 million barrels a day by 2018, according to The Wall Street Journal.

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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.