Daily LNG price update (US fast, China slow)

Thursday, 30 April 2015

Brent oil jumped last night to $65.61 after the US oil inventory build slowed to crawl, up just 1.9mbbls on the week:

It looks like shale production is peaking right on time in May. Whether that justifies the jump in the oil price is very questionable but it had a gail blowing behind it in a tanking US dollar so that helps explains it.

The indicative LNG contract price hit a new recovery high at $9.57mmBtu:

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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.