Daily oil and LNG price update (to the moon)

Wednesday, 5 October 2016

OPEC must be having a good old giggle as markets dance to its tune. Brent finished up again at $51.30 a Henry Hub leaped as well to $2.97mmBtu:

Suddenly it’s the best of both worlds for OPEC with rising prices and production! There was also API inventories which were bullish with a big US draw on oil stocks:

From the WSJ:

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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.