Daily oil and LNG price update (lost anchor)

Thursday 21 April 2016

The Brent oil price has lost its anchor and there is nothing to stop it as it surges towards $50 settling overnight at $45.58. Henry Hub joined in and at $2.09mmBtu:

The trigger was more OPEC scuttlebutt that made no sense and a smaller than expected US inventory build. From John Kemp, crude stocks are still growing:

Gasoline looks increasingly plentiful:

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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.