Daily LNG price update (“slow motion train wreck”)

Sunday 1 November 2015

The Brent oil price climbed again Friday night to $49.46 as the US dollar weakened, Obama authorised boots on the ground in Syria, a slew of oil majors continued to cut capex plans and the US oil rig count resumed sharp falls down 16 to 578:

So much for stabilisation. So long as the rig count falls oil can hang on grimly to the high $40s support zone:

Turning to LNG, the indicative oil-linked contract price rose to 6.93mmBtu:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.