Daily LNG price update (doom loop)

Monday, 21 September 2015

The Brent oil price tanked 3% Friday night to finish at $47.75. The US dollar was strong but the real cause of weakness was expanding concerns about global growth following the Fed rates choke.

In fact, news flow was bullish with more falls in the US rig count down 8 to 644:

And there is mounting distress in producers suggesting more to come, from the WSJ:

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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.