Daily oil and LNG price update (equilibrium)

Sunday 12 February 2017

The Brent oil price rebounded strongly on Friday to $56.69. Henry Hub gas is well into the post-Winter blues sagging to $3.04mmBtu:

Driving oil was the IEA which confirmed a solid cut from OPEC:

Going the other way, US shale added 9 more rigs to 591 and production is now up 500kb/d:

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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.