Daily oil and LNG price update (break out)

Tuesday 12 April 2016

Brent oil broke out last night is riding high once more at $42.78. Henry Hub swooned to to $1.92mmBtu:

The oil rise was again despite negative news flow with Algeria confessing there is no cut in prospect at the OPEC meeting, from Bloomberg:

Planned April 17 meeting of OPEC, other major producers in Doha, Qatar, aims to reach agreement to freeze oil production at Jan. levels, Algeria’s state-run news agency APS reports, citing Energy Minister Salah Khebri.

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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.