Advertisement
The Brent oil price was under pressure again last night but held on to rise a little to $46.15. Henry Hub has broken out, surging to $3.07mmBtu:
Libya continues to surprise markets (but not me) with its progress, from Bloomberg:
The North African nation’s crude output rose to 450,000 barrels a day after work resumed at some oil fields, Ibrahim Al-Awami, head of oil measurement department at state-run National Oil Corp., said by phone on Tuesday. Armed conflicts and political disputes have hobbled the country’s production, which slid to 260,000 barrels a day last month, data compiled by Bloomberg show.
The full text of this article is available to MacroBusiness subscribers
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.
Advertisement