Daily oil and LNG price update (sunk costs)

Sunday 29 May 2016

The Brent oil price firmed a touch Friday night to $49.47 while Henry Hub rose to $2.17mmBtu:

News flow was neutral with the US rig count down by just two and clearly flattening out. More bullish for prices, Nigeria continues to struggle with rebel attacks and Donald Trump suggested he would bomb Libya.

Turning to LNG, the indicative oil-linked contract price fell to $6.93mmBtu:

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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.