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The Brent oil price was solid Friday night at $55.32. Henry Hub gas is at $3.39mmBtu:
I haven’t been posting much on oil because post-OPEC cuts our course is more or less set. The price will hover between $50-60. And US shale will rocket back. Last week the rig count jumped another 12 to 450 and production is up and away:
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More interesting today is LNG where prices have broken out. Contract prices are at $7.75mmBtu:
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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.