Daily LNG price update (JOKEPEC)

Monday 4 April 2016

The Brent oil price is beginning to look weak, down -4.1% Friday night to $38.64. Henry Hub gas is at $1.95mmBtu:

If oil breaks $38.30 then the slide will resume. It’s no wonder. The OPEC non-deal is suddenly looking decidedly exposed, from Bloomberg:

“Kiss goodbye to any Doha accord,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. “There will be no agreement without Saudi Arabia. Why should others sign up to freeze output?”

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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.