Daily LNG price update (rigs!)

Monday 11 July 2016

The Brent oil price was weak again Friday night despite the wild rise in everything with Brent more or less unchanged at $46.56. Henry Hub rebounded a little to $2.82mmBtu:

The news flow was mixed but tilted bearish as we saw more Nigerian sabotage, more progress in Libya and the US rig count climb 10 to 351:

The glut is continuing worldwide, via Reuters:

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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.