Daily oil and LNG price update (weak)

Tuesday, 12 July 2016

Oil is weak. Brent fell again last night to $46.05 and Henry Hub gas joined the drop down -3.2% to $2.71:

The causes are obvious with a little demand shock out of Brexit and China and supply returning in Canada, a still troubled in Nigeria, plus Libya is making progress, from Bloomie:

Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman.

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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.