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The Brent oil price lifted a little overnight after keeping its head just above GFC lows and is trading at $36.31 as I write. Henry Hub gas pulled back to 1.87mmBtu:
News was thin. Noteworthy was WTI and Brent converged completely, as expected, which is good for the US and bad for everyone else.
Turning to LNG, the oil-linked indicative contract price rose slightly to $5.08mmBtu:
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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.