Introduces Kevin Green to discuss oil market moves, noting unemotional reaction despite strikes and OPEC acting as shock absorber by resuming production.
Sam
Kevin Green
Oil's upside move stopped at 200-week MA resistance; OPEC's 200k bpd quota increase is a drop vs Iran's 3-4M bpd; real impact is on LNG, not crude.
Asks about LNG: 20-30% global supplies offline? Ramifications for price action and macro impact.
Sam
Kevin Green
Qatar Energy halt = ~20% impact; Dutch gas up 45%; concern for European inflation; US LNG exports to draw; Cheniere/Venture Global stocks up.
Wants take on ISM manufacturing PMI and precious metals.
Sam
Kevin Green
ISM manufacturing PMI 52.4 vs 51.7 expected, but prices component surged to 70.5 vs 60.6 expected, indicating major acceleration.
Kevin Green
10-year Treasury yield moved >17 bps, showing aggressive volatility, backing out some rate cuts priced for 2026.
Notes European bond yields jumping; asks about gold and other precious metals rolling over.
Sam
Kevin Green
Gold up 1.9% but seeing selling; dollar strength as safe haven may pressure gold; industrial metals (silver, copper, palladium, platinum) moving lower on growth fears.