Daily LNG price update (smash)

Tuesday, 9 February 2016

Brent oil took a sizable shellacking overnight down nearly -4% to $32.75 as I write. Henry Hub gas went the other way:

The proximate cause was a even less fruit to pick from the fantasy OPEC production cut, from CNBC:

No tangible signs emerged from a meeting on Sunday between Saudi Arabia’s oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non-OPEC suppliers were ready to meet to discuss the price slump.

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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.