• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Solving The Space Problem For America’s Solar Industry
  • 6 hours Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 12 hours Investment in renewables tanking
  • 1 day If hydrogen is the answer, you're asking the wrong question
  • 1 day "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 2 days How Far Have We Really Gotten With Alternative Energy
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




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News