Daily LNG price update (the sun)

Friday, 2 October 2015

Brent oil fell last night after rallying close to $50 and finished at $47.95. The FT sums up where we are nicely:

A fragile global economy threatens the progress of rebalancing an oversupplied oil market, says Gary Ross, executive chairman of Pira Energy Group, the research company.

Cuts in oil production were happening more slowly than expected after crude prices collapsed in the past year, said Mr Ross. Even with oil companies pulling the plug on big projects and deploying fewer rigs to drill for oil, supply remains robust.

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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.