Daily oil and LNG price update

Tuesday 26 April 2016

The Brent oil price fell 1% last night to $44.62 and Henry Hub gas has been rebounding at $2.20mmBtu:

Weighing on oil was a more data showing an ongoing Us inventory build and perhaps the Doha fail is also eroding confidence, from Citi:

If anyone had a doubt about Saudi Aramco’s ability to use its logistical system and spot sales to increase market share, its recent 730-k bbl sale of a cargo to a Chinese teapot refiner in Shandong should lay any doubts to rest.

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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.