Daily LNG price update (Fed cat bounce)

Brent oil took last night for no apparent reason, up 4% to $50.84:

The trigger may have the Fed’s Dennis Lockhart who appeared and both supported a September rate hike and consciousness of falling inflation. That pretty contradictory but the end result was a sharp fall in the US dollar as another governor Stanley Fischer carried the day:

“Employment has been rising pretty fast … and yet inflation is very low and the concern about this situation is not to move before we see inflation, as well as employment, moving to more normal levels…I think a large part of the current inflation is temporary: it has to do with the price of oil, it has to do with the price of raw materials; these are things that are going to stabilise at some point.”

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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.