Daily LNG price update (equilibrium)

Monday, 29 June 2015

Brent oil settled a little lower Friday night at $63.18. The major release of the night was the US rig count which rose for the first time in 29 weeks by 2 to 859:

The rise was triggered largely by gas rigs but the shale bottom is basically in and don’t forget that production need not fall away quickly anyway given the “fracklog” of already drilled wells that are waiting to be tapped. In news, Iran is the buzz, from CNBC:

an Iran agreement now appears elusive, and the market expects the talks to continue past the deadline, even as Secretary of State John Kerry headed back to Vienna on Friday for negotiations.

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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.