Daily LNG price update (volume risk)

Tuesday, 28 July 2015

Brent oil crashed another 3% last night to $52.92 as I write. Some great charts from Morgan Stanley say it better than I can:

Hello glut! In terms of market positioning we’re getting oversold, from John Kemp:

So we may see a snap back soonish. But clearing that glut is going to take years. I am not confident that $50 is going to hold for long.

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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.