Daily LNG price update (down, up)

Tuesday 17 November 2015

Brent oil was pulverised again last night as it fell as low as $43.57 just one dollar above its low for this move. However, it piled it on into the close and is up firmly as I write at $44.80:

There was no real cause for it and the failure to catch a bid from Syrian tensions is pretty bearish. A couple of nice charts from John Kemp show that key US shale states are starting to see falling production but it’s too slow:

Turning to LNG, the oil-linked indicative LNG contract rose to $6.27mmBtu:

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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.