Australian LNG

The Mining GFC has been postponed by a perfect US jobs report that was perfect for growth and equally perfect for inflation as wage growth fell away.

Brent oil rampaged 5% higher Friday after the perfect US jobs report to finish at $38.93.

Oil definitely wants to go higher again finishing up at $37.14 as I write.

If it digs, buy it!

Brent oil was almost shockingly strong last night rising again to $36.96.

Shares are off to the races today after the wild lead from offshore markets and the local GDP beat.

The Brent oil price firmed again last night to $36.80 as I write.

From ORG: Same as the Gorgon January deal.

Shares are holding up today despite the economy clearly deteriorating.

Brent oil broke out last night up 3% to $36.60 as I write.

It’s BTFD day, whatever it is!

Brent oil rocketed to new highs Friday night but could not hold the gains and ended down mildly at $35.16.

The share market is one nervous Nelly again today ignoring positive overnight leads as banks can’t catch a  bid.

Brent oil rallied again last night above $35 while Henry Hub hit new 12 year lows at $1.75mmBtu before a bounce: The Brent chart is now clearly set up in a bullish ascending triangle pattern.

It’s another tough day for shares despite the overnight rally in the US as banks and miners take heat.

Brent oil rebounded last night on US EIA data to $34.51.

It’s a little bit of carnage today for shares.

So, Brent sank 4% to $33.37 last night as some reality returned to OPEC hopes.

The screaming dead cat bounce of the last few days is finding resistance today as key prices weaken.

BHP is out with its half-year results and it ain’t pretty: So, a -5.7bn profit, a full Samarco write off and huge shale write down, an annihilated dividend and very gloomy outlook across the portfolio:   All future booms and none in sight.

For markets, the Mining GFC is now in full and panicked reverse gear.

The Brent oil took off again overnight and the chart looks bullish: That’s an ascending triangle pattern forming and any break above $36 will indicate a break out.

The share market is having a good day as iron ore offers false hope to the feeble-minded.

From Reuters: Iran has increased oil exports by 500,000 barrels per day since international sanctions against Tehran were lifted in January, a top official said on Saturday.