Daily oil and LNG price update (the lynch pin)

Thursday, 16 June 2016

The Brent oil price is suddenly weak, falling sharply to $48.67mmBtu. Henry Hub gas is still firm at $2.59mmBtu:

There was no data to explain the Brent fall and the weak-kneed Fed should have supported it too. If anything data was bullish as US inventories missed expectations and production fell again:

There was no news on Nigeria or Libya, either. However, Canadian outages are history and Goldman released a note expecting Nigeria outages to be short terms as well:

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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.