Daily oil and LNG price update (finding marginal cost)

Thursday, 23 June 2016

The Brent oil price fell sharply last night to $49.80 as I write. The Henry Hub rocket flamed out at 2.67mmBtu:

Driving oil down was bearish US DOE inventory data. Crude stocks are not falling anywhere near as fast as last year, from John Kemp

Petrol stocks are high:

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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.