Daily oil and LNG price update (freeze schmeeze)

Monday 2 May 2016

The Brent oil price was hit Friday night to finish at $47.39. Henry Hub rebounded to 2.14mmBtu:

Oil fell despite another tumble in the US rig count:

And despite a very weak US dollar. The big news was OPEC output data for April from Reuters which showed production right at the January high:

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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.