• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 44 mins Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 2 hours America's pandemic dead deserve accountability after Birx disclosure
  • 26 mins U.S. Presidential Elections Status - Electoral Votes
  • 2 hours Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 4 days Fukushima
  • 3 hours CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 3 days Biden about to face first real test. Russia building up military on Ukraine border.
  • 4 days Joe Biden's Presidency
  • 2 days New Chinese Coal Plants Equal All those in U.S.A
Editorial Dept

Editorial Dept

More Info

Premium Content

The “Big LNG Short”

Friday October 4, 2019

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. U.S. manufacturing activity plunges

(Click to enlarge)

• Oil was ensnared in a global selloff midweek after fresh data pointed to a sudden and sharp contraction in U.S. manufacturing activity.
• The Institute for Supply Management said that the manufacturing PMI fell to 47.8, the worst reading in a decade. Anything below 50 means a contraction in activity.
• Global equities sold off, as did crude oil. The U.S. economy has been relatively healthy throughout 2019, despite a significant deceleration in China, Germany and elsewhere.
• Manufacturing is still a relatively small slice of the economy at around 10 percent. But if it bleeds over and leads to declines in consumer spending, the U.S. could be heading for a recession.

2. Palladium prices stay aloft

(Click to enlarge)

• Precious metals have lost quite a bit of value over the past month, but palladium has fended off the price correction and has stayed aloft.
• It’s not clear that defying gravity can last.
• “Because palladium has held its own better than any other precious metal and has declined…





Leave a comment
  • Jeff Lawrence on October 05 2019 said:
    ISM data led only 1 of the last 6 US recessions. It lagged (badly) all other recessions. It also predicted many recessions that never happened. It is kinda interesting but not useful in the absence of other data. Next...

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News