Daily oil and LNG price update (looong)

Wednesday, 31 August 2016

The Brent oil price came under pressure last night falling solidly to $48.67. Henry Hub was hit too to $2.83mmBtu:

Pressure is mounting on different fronts. Nigeria is improving. Libya less so. Iraq wants to pump more. The OPEC freeze is toast. The US dollar is rising. And markets are way looong, from John Kemp:

I guess OPEC scuttlebutt will push us around until we’re passed the meeting but the alignment is for lower prices and soon.

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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.