Daily LNG price update (OPEC shorts oil)

Thursday 6 August 2015

Brent oil sank to new lows last night and retested $49 before rebounding a little:

The cause was US weekly figures for inventories and production. On the former the news was good with a large draw but the latter showed a recovery and trumped:

The WSJ pretty much sums up what is needed:

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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.