Daily LNG price update (bounce)

Thursday, 11 June 2015

Brent oil jumped again last night to $65.51 as US DOE data showed a big draw on crude stocks:

It would have been more had it not been for production, which is still rising:

That can’t go on much longer, which of suggests upside for the price. Check out these charts of production in the major US shale basins from John Kemp at Reuters:

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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.