Daily oil and LNG price update (BTFD)

Tuesday, 25 October 2016

The Brent oil price was whacked last night but the dip-buyers piled in an it ended marginally down. Henry Hub is back at $3.30 though there seems to be something wonky in the data:

Oil was pushed around by worries over Iraq derailing OPEC. Libya is seeking more oil to ship. And Nigeria is meeting its militants. All price negative but the OPEC Jedi is still in control.

Turning to LNG, the indicative oil-linked contract price fell to $7.21mmbtu:

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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.