Daily LNG price update (oil bash)

David Llewellyn-Smith

Thursday 16 July 2015

Brent crude sank 3% last night to $57.19 as the reality of the Iran deal and a stronger US dollar overwhelmed all else.

US data was actually bullish with the DOE weekly inventories showing a strong draw and a sharp production fall:

But that was not enough to overwhelm this, from CNBC:

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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.