Advertisement
Brent oil pulled back last night on a range of factors but not very far resting at $43.94 as I write. Henry Hub is joining the party again, up to $2.04mmBtu:
In the news there was more OPEC rumourtage but more important were the IEA and OPEC monthly reports, from Oil Price:
OPEC’s monthly oil market report has been released, showing the cartel has revised oil demand slightly lower this year by 50,000 barrels per day to 1.2 million bpd, driven by economic concerns about Latin America.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.