Daily LNG price update ($70 it is then)

Friday 7 November 2014

Oil resumed its slide last, back to $78, with more to com it seems. From the WSJ:

…At a news conference in Vienna on Thursday, OPEC secretary-general Abdalla Salem el-Badri said the group is “concerned, but we are not panicking.”

…“At $70 a barrel, there will be panic in OPEC. We have become used to living with $100 a barrel,” said one OPEC official…

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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.