Daily oil and LNG price update (balance)

David Llewellyn-Smith

Wednesday 15 June 2016

The Brent oil price was hit last night settling at $49.28. Henry Hub is still firm at $2.60mmBtu:

The main driver was more US inventory build, via API:

There was no news on Nigeria or Libya but IEA sees an oil market balance by year end if they stay out:

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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.