Daily oil and LNG price update (correction over?)

Sunday 14 August 2016

While I was away the Brent oil price rebounded from its material sell-off adding more on Friday night to finish at $47.19. Henry Hub is down to $2.60mmBtu:

While I was gone there was news of more conflict in Libya and, most importantly, jawboning from Saudi via CNBC:

Saudi Arabia just made it much more likely that OPEC and other oil producers will take action if crude prices weaken.

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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.