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Brent oil rebounded last night on a range of positives to $40.29. Henry Hub gas climbed to $1.87mmBtu:
The positive were:
- OPEC and NOPEC agreed to meet on April 17 in Doha and hinted that Iran would be freeze exempt;
- DOE US inventories grew less that expected, and
- the US dollar was whacked by a dovish Fed.
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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.