Daily LNG price update (bullish)

Friday 26 February 2016

Brent oil rallied again last night above $35 while Henry Hub hit new 12 year lows at $1.75mmBtu before a bounce:

The Brent chart is now clearly set up in a bullish ascending triangle pattern. If it breaks above it’s early February high then we’re off to the races for a time.

There was no reason for it. Indeed OPEC comments were funny, from CNN:

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.