Daily LNG price update (teens)

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The Brent oil price sank again overnight down -7%+ to $30.60 as I write. Henry Hub gas fell sharply as well to $2.09mmBtu:

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There were two causes. First, the IEA cut its demand growth estimates for 2016:

Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report  (OMR) for February informs subscribers. Early elements of the projected slowdown surfaced in the last quarter of 2015.

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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.