Daily oil and LNG price update (more freeze drivel)

Tuesday, 6 September 2016

The Brent oil price spiked last night before falling back to $47.48 now. Henry Hub was soft at $2.75mmBtu:

The trigger was more freeze drivel, via Domainfax:

Saudi Arabia and Russia said on the sidelines of the G20 summit in China they had signed an agreement to set up a task force to review oil market fundamentals and to recommend measures and actions that would secure market stability.

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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.