Daily LNG price update (US gas challenge dead?)

Monday 2 February 2015

The Brent oil price piled it on Friday night, up 7% to $52.42. The price was flat all night until Baker Hughes released its weekly US oil rig count which crashed 90 to 1543:

The indicative LNG contract price jumped to $7.65mmbtu:

Meanwhile, the LNG spot price has finally caught up with the contract crash and traded at $7.45mmBtu last week:

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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.