Daily LNG price update (a very bad day)

Thursday, 27 August 2015

Brent oil caught a break last night as weekly data turned up 1% or so to $43.63. The data in question was weekly US inventories and production which both fell sharply:

The correction is largely technical but nonetheless welcome. US inventories will begin to rise again soon as we exit driving season.

Longer term news was not so promising. There is no emergency OPEC meeting without Saudi from Reuters:

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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.