Daily oil and LNG price update (Libyan gusher)

Thursday, 15 September 2016

The Brent oil price was whacked lower last night to $46 and Henry Hub fell too to $2.89mmBtu:

Three bearish developments drove the losses. The first is Libya where stuff is turning very interesting indeed, from Yahoo:

Forces opposed to Libya’s unity government handed management of four vital oil ports to the National Oil Company on Wednesday after seizing them in a blow to fragile peace efforts.

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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.