Liquefied natural gas spot prices will fall to $3 per million British thermal units by mid-2017 or 2018 as new projects worsen a global glut, according to energy consultant FGE. LNG on the spot market near Singapore has fallen 68 percent since October 2014 to $4.43 per million Btu this week. Source: Bloomberg
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Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. Source: Bloomberg
The Federal Reserve has said that it will start to run down some of the investments it made to boost the US economy after the financial crisis. In October the Fed will start to reduce a $4.2trn portfolio of US Treasury bonds and mortgage-backed securities, it said. Source: BBC News
S&P Global Ratings downgraded China’s long-term sovereign credit rating by one notch on Thursday to A+ from AA-, citing increasing risks from the country’s rapid build-up of credit. Source: Reuters