Australian LNG

No stick save for oil from Janet Yellen but it is up on the day to $31.08 as I write.

Not much fun on the bourse today with houses and holes both shredded by the raging Sykesnado.

From Michael West, the last journo standing: The Gas Cartel has managed to convince the Australian public that when global gas prices are high we should pay global prices and when global prices are low we should pay 60 per cent more than the global price.

Brent oil took a sizable shellacking overnight down nearly -4% to $32.75 as I write.

From Domainfax comes a new chapter in the history economic stupidity: Large industrial customers in north-west Queensland paid on average $11.97 a gigajoule for gas in 2015, compared to $5.68 in Victoria, a new report for the Department of Industry, Innovation and Science has found.

Brent oil eased again Friday night to $34.13 and Henry Hub firmed a little: The action was despite a renewed plunge in the US rig count down down -31 to 467.

The big iron dead cat bounce continues today with BHP up another 3.3%, RIO 1.8% and FMG is flat: Dalian is falling today down two points.

Brent oil refused to join the commodities party last night, falling -2% to $34.28 as I write.

Big and gas are off to the races as the Fed has indicated it will take the recent tightening in financial conditions into account at its next meeting.

Brent oil went berserk last night up 7.4% on a central banker short squeeze as the US dollar tanked.

Big iron and gas are again being ripped apart by the Sykesnado which is only intensifying.

Better late than never: STO and ORG are still impacted by balance sheet stress We believe Santos (STO) and Origin Energy (ORG) currently experience the greatest balance sheet stress among our LNG coverage (primarily from low oil prices).

The Brent oil price was hammered again last night, roughly -4% as I write and back to $33.

It’s beginning to turn hostile for the big miners again as oil runs out of pep.

From Bloomberg: Mitsubishi, Mitsui, Sumitomo and Marubeni “are facing quite large revisions”, said Hiroyuki Sakaida, a Goldman analyst in Tokyo. The bank estimates combined writedowns for four of the five largest sogo shosha could total between 811 billion yen ($US6.7 billion) and 1.6 trillion yen in the fiscal year ending March 31.

The Brent oil price was hammered back to a semblance of reality overnight down 5% to $34.24 as bad news flowed.

The big iron and gas dead cat bounce is not travelling well today despite Wall St hysteria Friday night.

The Brent oil price continued its rocket impersonation Friday night up another 3% to $35.91.

It’s dead cat day with BHP up 1.5%, RIO up 0.5% and FMG up 10% on a Credit Suisse upgrade:   Dalian is flat.

Courtesy of Zero Hedge comes the Caterpillar depression update: This past year was a difficult one for many of the industries and customers we serve.

Brent oil continued its bear market rally over night rising to $35.28.

Big iron and gas are up with a modest dead cat bounce.