Daily oil and LNG price update (Atlantic gusher)

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Brent oil finally succumbed to the reality of a flooded market last night and fell 1.6% to $50.68. Henry Hub data is still all over the place:

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There wasn’t much oil news on the night. Russia is rumoured to have rejected cutting production. Nigerian production is booming again, from Platts:

Nigeria’s oil production has risen to 1.9 million b/d, the oil ministry said Tuesday, even as the government has begun moves for all-inclusive talks with Niger Delta leaders to end militancy in the region and bolster oil production.

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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.