Daily oil and LNG price update (worse not better)

Tuesday 12 July 2016

The Brent oil price joined the global party last night as it jumped 4% to $48.10. Henry Hub was flattish at $2.74:

The downtrend is intact and the news flow suggests it will remain that way. API inventories in the US were bearish with inventory builds:

News from Libya was good again, from Stratfor:

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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.