Daily LNG price update (break)

Monday, 10 August 2015

And so we are through support. On Friday night Brent oil broke closing support as it settled at $48.54:

A couple of lousy intra-day lows is all that stands between us and free fall. It appears we’re going $40 in an overshoot.

Oil fell all night but was not helped by the release of the US rig count which continued to recover up 6 to 670 for oil and up 10 to 884 overall:

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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.