Daily oil and LNG price update (Henry Hub rocket)

David Llewellyn-Smith

Sunday 19 June 2016

The Brent oil price snapped back hard Friday to $49.38. Henry Hub is still firm at $2.64mmBtu:

The jump was driven by nothing. News flow was, in anything, bearish as the US oil rig count trends higher up 9 to 337:

Turning to LNG, the indicative oil-linked contract price rocketed to $6.91mmBtu:

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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.