Daily LNG price update (shale goes boom)

Monday, 12 December 2016

The Brent oil price has not moved much in the past few days, finishing Friday at $54.30. Henry Hub gas, however, continues to rocket, hitting $3.74mmBtu:

However, over the weekend, we say more production cut commitments, via Bloomberg:

Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year.

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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.