• 3 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 minutes This Battery Uses Up CO2 to Create Energy
  • 10 minutes Phase One trade deal, for China it is all about technology war
  • 12 minutes Trump has changed into a World Leader
  • 9 hours Shale Oil Fiasco
  • 2 hours Might be Time for NG Producers to Find New Career
  • 2 hours Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 10 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 1 day Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 1 day Wind Turbine Blades Not Recyclable
  • 2 days China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 1 day Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 1 hour Indonesia Stands Up to China. Will Japan Help?
  • 1 day Denmark gets 47% of its electricity from wind in 2019
  • 9 hours US Shale: Technology
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…




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
Download on the App Store Get it on Google Play