Daily oil and LNG price update (US cheap!)

Monday, 23 May 2016

The Brent oil price lift a little to $48.80 Friday while Henry Hub gas rose as well to $2.05mmBtu:

The oil news flow was mixed as Canadian wild fires continue to ease, Nigerian rebels (or angry youths more like) attacked another pipeline, Libyan oil resumes flowing and the US oil rig count bottomed out. The net impact of that is probably a tilt bearish.

As well, Reuters has a fascinating story on the storage glut:

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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.