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The Brent oil price eased a little last night to $45.92 and Henry Hub pulled back a touch as well to $2.94mmBtu:
The major news of the night was more OPEC scuttlebutt and Libyan strife, from Oil Price:
The Petroleum Facilities Guard and the Libyan National Army (LNA) yesterday locked horns again, at the Ras Lanuf port, which halted the loading of the first export-bound oil cargo at the port since 2014. The LNA took over Ras Lanuf, along with Es Sider, Zueitina, and Al-Brega last week, after they’d been held for years by the PFG.
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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.
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