Daily LNG price update (slump)

Friday, 14 August 2015

Brent oil fell back again last night to $49.64 as I write:

There wasn’t much news and the US dollar firmed a bit as markets spent the day on delusional high about Fed rate hikes after swallowing PBOC rhetoric. And there was this, from CNBC:

The largest of those refineries—BP‘s 413,500-barrel per day (bpd) facility in Whiting, Indiana, also the biggest in the U.S. Midwest—has been forced to shut two-thirds of its capacity for repairs to a leak that could last a month or more.

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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.