Daily LNG price update (shale peak)

Thursday 21 May 2015

Brent oil staged a small comeback last night as it became clear that the US shale production peak is in. DOE inventories fell again, from Zero Hedge:

But more importantly, crude production fell sharply:

The indicative LNG contract price rose to $9.47mmBtu:

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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.