Daily oil and LNG price update (Indian boom)

Thursday, 22 September 2016

The Brent oil price dutifully salivated at the Fed dinner bell last night bid firmly to $47.10. Henry Hub continues higher to $3.07mmBtu:

However, within fundamentals things continue to deteriorate. US DOE data was somewhat bullish as crude stock fell heavily, from John Kemp:

But it’s still largely based on market distortions with refineries going like the clappers building product stocks again:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.