Daily LNG price update (shale revival)

Tuesday 8 March 2016

The Brent oil price soared another 5% last night to $40.70. Henry Hub managed a more sedate 3% to $1.71mmBtu:

The reason is hedgies are piling in long, from John Kemp:

Seems to me likely now that this rocket won’t stop until we see US shale bottom out. Last year that was $60 Brent. This year my guess is more like $50. There’s a lot of room to climb for WTI!

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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.