Daily LNG price update (short squeeze)

Thursday 29 October 2015

The Brent oil price reversed course sharply last night for no reason at all, up 5% to $49. The weekly US DOE data was not bullish with a still solid weekly inventory build:

And larger production:

The US dollar also took off on the suddenly hawkish Fed. Meanwhile, China is out of storage space, from Reuters:

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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.